The US dollar started trading in the Asian session by staying strong against most major currencies traded cautiously ahead of today's US presidential election.
Investors are now wary of any possible outcome of the upcoming election results, raising their holdings on the safe-haven US dollar until they are in a good position to capitalize on market volatility.
The dollar index, which measures the strength of the greenback dollar against a basket of major currencies, traded around a one-month low of 94.05.
While the safe-haven yen has also risen higher in recent weeks and remained strong at 104.75 against the US dollar at the beginning of the Asian session.
For the Asian currency, the Aussie dollar traded stable ahead of the Reserve Bank of Australia (RBA) policy meeting shortly, where the market expects interest rate cuts and changes in quantitative easing.
The New Zealand dollar, which also followed the rise of the Aussie dollar and the surge in the stock market, traded stable at $ 0.6630.
In addition, the euro continued to trade weakly around the one-month lows following the strengthening of the US dollar and expectations that the European Central Bank (ECB) will reduce interest rates at its next policy meeting.
The pound was stable after recording a slight increase in the previous session. At a policy meeting on Thursday, the Bank of England (BOE) is expected to increase its monetary stimulus to continue to support the economy.
