The strengthening of the greenback dollar has finally stopped following the decline in US treasury revenue which has been a major driver of the currency's rise since last week.
This has given room for major currency trading to rise again amid- improving market sentiment.
Nevertheless, investors remain wary of the absence of clear catalysts, such as key economic data, to drive currency movements in the market.
The 10-year U.S. treasury yield fell slightly to 1.12% from 1.18% during the New York session, and this has led to a depreciation of the US dollar.
The market is now focusing their attention on President-elect Joe Biden who will launch his additional economic stimulus plan on Thursday which will definitely affect market sentiment.
The euro climbed higher in line with the depreciation of the greenback dollar, although the European Zone is now facing pressure for the implementation of longer coronavirus closures in Germany.
Chancellor Angela Merkel warned that the closure could last for 8 to 10 weeks if the situation does not improve.
Meanwhile, the pound sterling soared following a statement from Bank of England (BOE) Governor Andrew Bailey easing market concerns over the implementation of negative interest rates.
As for the Asian currency, the Aussie and New Zealand dollars jumped again from a one-week low against the US dollar.
