The US dollar fell on Wednesday, deepening losses for the second straight day due to weak demand, following the US Treasury Secretary nominee Janet Yellen's recent statements and ahead of Joe Biden's as inauguration president of the United States.

The dollar index fell more than 0.2% to 90.27 points, after opening at 90.48 and hit a high of 90.53.

The greenback lost 0.3% yesterday, on profit-taking from a 4-week high of 90.95 points.

Biden's Treasury Secretary nominee Janet Yellen urged lawmakers not to worry too much about debt, adding that President Joe Biden's administration would not aim to weaken the US dollar against other currencies to support exports.

US President-elect Joe Biden today will be officially inaugurated as the 46th president of the United States, and the ceremony take place in Washington at 17:00 GMT.

Biden has pledged to add extra stimulus to quickly overcome the coronavirus crisis impact, which is the worst economic crisis since the 1930s Great Depression.

European stocks rose on Wednesday, extending gains for the second daily gain in 3 days, thanks to high market sentiment following the US Treasury Secretary nominee Janet Yellen's comments, and ahead of Joe Biden's as inauguration president of the United States.

The Stoxx Europe 600 index rose 0.5% as of 11:35 GMT, after it closed lower by 0.2% yesterday, after closing higher by 0.3% on Monday following upbeat Chinese data.

The pan European index opened higher today, extending gains for the second session in 3, with most of the major European markets and sectors seeing green.

The tech sector saw the largest gains in Europe today, rising more than 1.8%, following Wall Street's strong gains.

Biden's Treasury Secretary nominee Janet Yellen urged during her Senate hearing lawmakers to "act big" to boost the US economy's recovery from the coronavirus repercussions and not to worry too much about debt.

US President-elect Joe Biden today will be officially inaugurated as the 46th president of the United States, and the ceremony take place in Washington at 17:00 GMT.

Biden has pledged to add extra stimulus to quickly overcome the coronavirus crisis impact, which is the worst economic crisis since the 1930s Great Depression.

S&P 500 futures rose 0.5%, after the index closed higher by 0.8% yesterday at Wall Street, in the first gain in 3 days on stimulus hopes.

Back to Europe, the Euro Stoxx 50 index rose 0.6%, France's CAC 40 rose 0.5%, the UK's FTSE 100 added 0.1%, and Germany DAX index rose 0.7%.

Gold prices rose on Wednesday, extending gains for the third straight day, thanks to the US dollar's drop against its peers ahead of Joe Biden's as inauguration president of the United States.

Gold prices rose 0.9% to $1,857.37 an ounce, after opening at $1,840.13 and hitting a low of $1,839.49.

The yellow metal gained 0.1% yesterday, as most dollar-denominated metal prices rose.

The dollar index fell against a basket of major currencies by 0.2% today, on track for the second straight daily loss.

The US dollar's drop comes due to slowing demand amid improved risk appetite following the US Treasury Secretary nominee Janet Yellen's testimony before the US Senate.

Yellen urged lawmakers not to worry too much about debt, adding that President Joe Biden's administration would not aim to weaken the US dollar against other currencies to support exports.

US President-elect Joe Biden today will be officially inaugurated as the 46th president of the United States, and the ceremony take place in Washington at 17:00 GMT.

Biden has pledged to add extra stimulus to quickly overcome the coronavirus crisis impact, which is the worst economic crisis since the 1930s Great Depression.

Gold stocks at the SPDR ETF fell 3.5 metric tonnes yesterday, with the total at 1,174.13 MT.

Oil prices rose on Wednesday, extending gains for the second straight day, ahead of Joe Biden's as inauguration president of the United States. Bearing in mind that Biden has pledged to add extra stimulus to quickly overcome the coronavirus pandemic economic impact.

US crude rose 1.1% to $53.65 a barrel, after opening at $53.07, and hit a low of $53.07, and Brent crude rose 1.15% to $56.52 a barrel, after opening at $55.88, and hit a low of $55.88.

US crude gained 1.8% yesterday, and Brent crude futures rose 2.1%, in their first gain in 3 days, within recovery attempts from a 1-week low after the US dollar fell.

US President-elect Joe Biden today will be officially inaugurated as the 46th president of the United States, and the ceremony take place in Washington at 17:00 GMT.

Biden has pledged to add extra stimulus to quickly overcome the coronavirus crisis impact, which is the worst economic crisis since the 1930s Great Depression.

Biden unveiled last week a huge $1.9 trillion coronavirus relief package, and stressed that he would continue to work to provide fiscal aid to families and businesses.

Biden's Treasury Secretary nominee Janet Yellen urged during her Senate hearing lawmakers to "act big" to boost the US economy's recovery from the coronavirus repercussions and not to worry too much about debt.

Otherwise, OPEC Secretary-General Mohammad Barkindo said that he is cautiously optimistic that the oil market's recovery will materialize this year.