Investing.com - The dollar saw selling in early European trade Tuesday, as clarity over the U.S. political transition emerged and the tapping of Janet Yellen to be the next Treasury Secretary strengthened expectations of an expansive fiscal policy under President-elect Joe Biden.
At 3:15 AM ET (0815 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was down 0.3% at 92.252, after seeing its lowest level since Sep 1 overnight.
EUR/USD climbed 0.3% to 1.1873, helped by an upward revision to German's third quarter GDP
growth to 8.5% from an initially reported 8.2%, while USD/JPY fell 0.2% to 104.30. The risk sensitive AUD/USD rose 0.9% to 0.7353.
A lot of the uncertainty surrounding the transition of power in the U.S. was lifted Monday when Emily Murphy, the General Services Administration head, effectively acknowledged Biden as the winner of the presidential election, saying he could have briefings and funding to ease his transition into the role.
President Donald Trump tweeted his approval of the move, even though he vowed to continue fighting to try and overturn the vote in several states.
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