The greenback dollar opened lower at the beginning of the Asian session market, while the euro continued to rise following rising investor sentiment following a better-than-expected sentiment review in Germany and a large spending discussion by US Treasury Secretary Janet Yellen.
In Yellen's testimony before the Senate Finance Committee, he urged lawmakers to 'act big' in the coronavirus stimulus package and not worry too much about debt.
In addition, the testimony of the former chairman of the Federal Reserve also suggested that the Biden administration would adjust the policy for the dollar.
The dollar index, which measures the strength of the greenback dollar against a basket of major currencies, is trading around the 90.40 price level.
The euro traded steady above the 1.21000 price level following the depreciation of the US dollar, as well as supported by a better-than-expected ZEW investor sentiment survey report.
Subsequent market attention was focused on the official appointment of Joe Biden as US President on Wednesday (Washington afternoon), focusing on his speech on the policies to be implemented in his administration.
Meanwhile, the pound sterling trade boosted support from the Bank of England (BOE) chief economist's positive forecast that Britain's economy would begin to recover in the second half of this year.
The loonie dollar traded cautiously ahead of Biden's inauguration ceremony and tonight's Canadian policy meeting which is expected to continue to keep interest rates at a low of 0.25%.
