The greenback dollar continued to rise after gaining the biggest gain in more than two months over major competitors in the Asian session, driven by a 10-year surge in U.S. treasury yields.
Democrats managed to dominate the Senate with a landslide victory this week, giving space to President-elect Joe Biden to implement more fiscal stimulus measures.
Following rising investor confidence following the victory, the 10-year treasury yield benchmark rose for the first time since March 2020 above 1% and remained strong at around 1.08% at the beginning of the Asian session.
Against most major currencies, the dollar index traded strong at 89.96.
The euro continued to depreciate above its 2-year high while still trying to stay above the 1.22000 price level against the US dollar.
The issuance of the NFP employment report tonight will definitely be the main focus for investors who are expected to record lower employment growth by December 2020.
The pound, meanwhile, is trading under pressure following an alarming increase in coronavirus cases in the UK, besides being affected by the rising greenback dollar.
On the other hand, the Aussie dollar and the kiwi also recorded a slight decline but still traded around a 2 and a half year high against the US dollar.
