The greenback dollar showed a slight increase in the start of the European trading session as market sentiment was still supported by optimism for the positive development of the Covid-19 vaccine.
The Federal Reserve (Fed) gave an indication in its recent meeting that it had discussed how quantitative easing programs could be developed to support recovery, including increasing purchase rates or extending bond periods.
The dollar index, which measures the strength of the greenback dollar against most major currencies, traded at 91.96.
The market is currently focusing on the issuance of a report on the minutes of the European Central Bank (ECB) meeting which is expected to loosen its monetary policy at next month's policy meeting.
This will likely affect the movement of the euro after investors see further central bank explanations in the minutes of the meeting to be issued tonight.
Entering the European session, the euro remained trading strong above the price level of 1.19000 despite recording a slight decline following the rise of the US dollar as European markets opened.
Meanwhile, Riccardo Fraccaro, the closest aide to the Italian Prime Minister, has proposed the idea to the ECB to cancel the government debt it bought during the coronavirus crisis to help recovery in the affected countries.
