The US dollar traded cautiously against most major currencies as markets awaited the vote-counting process in the US election which saw Democrat Joe Biden close to the White House.
Successfully dominating Wisconsin and Michigan, Biden is now close to getting 270 electoral votes.
Market focus is now on a number of swing states that have yet to be announced, namely Nevada where Biden leads the polls, while Trump leads in North Carolina, Georgia and Pennsylvania.
However, the market remains wary of the possibility, as President Donald Trump has made it clear that he will take legal action against the counting of votes in several states that are not in his favor.
The dollar index, which measures the strength of the greenback dollar against a basket of major currencies, is trading around 93.48.
Expectations that Biden's victory will be softer in trade policy, tend to weaken the US dollar against the currencies of countries that often face tariff threats during Trump's administration, analysts say.
Apart from waiting for the election results, investors are also looking forward to the FOMC policy meeting, where the Federal Reserve (Fed) is expected to keep interest rates unchanged on Friday (3.00 am).
Meanwhile in Europe, the pound sterling fell against the USD and the euro following reports that the Bank of England (BOE), which will announce its policy decision today (3.00pm), is considering negative interest rates.
The euro remained above 1.1700 after recording an increase in the previous session following the depreciation of the US dollar.
