The US dollar giant appeared to be weakening as the market entered the European session with market focus focused on the publication of US and Canadian NFP employment data tonight.
This depreciation has given room for the euro as well as other commodity currencies to record an increase at the beginning of the European session.
Against a basket of major currencies, the dollar index declined by 0.15% at 91.41, but still traded around its 2-month high.
The 10-year US treasury yield remained strong at around 1.13% to support greenback dollar trading.
Previous US unemployment claims data showed encouraging readings, with a decline below 800,000 and ADP employment data. This may be one indication that the US job market is beginning to show recovery.
Following these optimistic expectations, it further strengthened market expectations to see employment reports rise tonight and at the same time push the US economic outlook to recover quickly.
Meanwhile, the pound continued to maintain its strengthening momentum to rise above the 1.370000 price level against the US dollar.
The decision of the Central Bank of England (BOE) policy meeting to maintain its approach to current monetary policy has supported pound sterling trading despite strong US dollars.
