Investors at the opening of the European session were shown weakening US dollar trading around the 2-and-a-half-year lows against most major currencies.
Investors have ignored reports of U.S. Senate Majority Leader Mitch McConnell blocking votes to increase Covid-19 aid payments from $ 600 to $ 2,000.
In fact, investors welcomed the announcement of US Treasury Secretary Steven Mnuchin announcing that the $ 600 payment aid would begin to be distributed to millions of Americans as soon as Tuesday night (US time).
This has pushed the weakness for the greenback dollar and allowed room for the major currencies to rise higher by recording the latest highs in the Asian session.
The euro jumped to its latest high since April 2018 at 1.22960 against the US dollar, before declining slightly around the 1.226000 price level at the beginning of the European session.
Meanwhile, the pound traded higher at the start of the European session after the AstraZeneca vaccine was reported to have received approval from the UK Medicines and Health Products Regulatory Agency (MHRA) as an emergency supply in the country, as well as a weak USD.
On the other hand, the Aussie dollar and the kiwi dollar continued to maintain its strength after recording a recent record high during the previous session, supported by positive market sentiment.
