- EUR/USD advanced in the latter part of the day.
- US Dollar Index declines to 89.50.
- Rising risk sentiment drags on the greenback.
The EUR/USD traded a tight range around 1.2770 in the early European session and edged higher in the NA session amid a softer tone surrounding the greenback..
USD selloff picks up steam
Upbeat US macro releases along with the potential for a Democratic majority in the Senate after election in Georgia boosted market sentiment.
Reflecting the positive mood, US equity indices traded up 0.3% and the US Dollar Index dropped 0.38% at 89.53.
ISM Manufacturing PMI in December climbed to the highest level since August 2018 at 60.7.
On Wednesday, the IHS Markit Services PMI data for Germany, the euro area and later the US will be in focus, as well as the ADP Employment Change. The Georgia election results will also watched closely.