The EUR/USD pair is firmly advancing beyond 1.2100, trading at levels that were last seen in April 2018. The dollar is under pressure amid hopes for US fiscal stimulus and an upcoming vaccine. Investors are shrugging off Germany's extended restrictions.
USD/JPY holds the lower ground around 104.50 amid a mixed risk appetite mid-week following a strong start in global equities and high-beta forex which dampened demand for the greenback. Vaccine and stimulus hopes remain alive, limiting the downside.
GBP/USD is rising toward 1.3450, the highest since September, shrugging off Brexit concerns. France may reportedly veto a deal if it sees too many compromises from the EU. The final US Services PMI, vaccine developments and US data are all awaited.
WTI (futures on NYMEX) reverses a dip below $45 so far this Thursday, as it holds the higher ground ahead of the highly-influential OPEC and its allies (OPEC+) oil output cuts policy decision. The OPEC+ is widely expected to extend oil cuts of 7.7 million barrels per day.