Aggressive movements were exhibited by the market at the start of early April trading, where the US dollar, which had initially risen at the beginning of the Asian session, returned to a low decline during the opening of the European session.
This was driven by a decline in the benchmark 10 -year US treasury yield which fell to around the 1.710%level.
This decline has provided an opportunity for most major currencies to record gains.
However, the increase recorded was insignificant as investors still held on to hopes for a faster recovery of the US economy after being supported by fiscal stimulus measures and vaccine launches.
At the time of writing, the dollar index, which measures the strength of the greenback against a group of major currencies, traded lower around 93.15.
Despite gaining support for the rise following the weakening greenback, the Aussie dollar remained trading around its lowest level since December and the kiwi dollar since November.
Meanwhile, the euro traded around the same price at 1.17300 against the US dollar despite displaying gains at the beginning of the European session.
The pound remained stable after recording its best performance in the first quarter of this year against the euro. Analysts say the increase is largely due to the rapid launch of vaccines in the UK compared to the European Union (EU).
