Market movements appear to be volatile ahead of President Joe Biden's speech that will launch the coronavirus stimulus plan on Thursday afternoon (American time).
The US dollar, which initially showed a surge following a report that said Biden would announce a $ 2 trillion aid package today, declined slightly but remained stable as the market entered the European session.
Investors' expectations that Biden's massive stimulus move will lead to a faster economic recovery have prompted US 10-year treasury yields to return to higher levels since March 2020, at 1.11%.
At the same time, however, the major currencies also showed an increase even as the US dollar strengthened.
The pound continued to trade strong around its latest high on Wednesday, although its movement was seen to be somewhat limited following the strengthening of the greenback dollar.
While euro trading slightly increased at the beginning of the European session with trading around the price level of 1.21500 against the US dollar.
On the other hand, the Aussie and kiwi dollars traded stable, each recording a 0.2% increase against the US dollar.
Meanwhile, Federal Reserve (Fed) Chairman Jerome Powell's speech today was also the focus of a market that is likely to talk about the stability of the Fed bond purchase scheme.
Other Fed drafters have previously voiced the possibility of reducing the scheme, which has given support to the US dollar.
