Euro extends gains to two-week high

Euro rose in European trade for another session against dollar as risk appetite improves in the markets. 

EUR/USD rose 0.2% to 1.1914, the highest since November 8, after closing up 0.4% yesterday, the largest profit in three weeks as political tensions in the US fade over the election results. 

The dollar index fell 0.2% on Wednesday, on track to touch a 12-week trough at 92.01.

Dollar's decline comes as haven demand tumbles on the greenback with sentiment improving in the US and stocks hit fresh record highs. 

A string of positive development news for the Covid 19 vaccines bolstered the markets, with hopes for approving and launching the vaccines before the year end. 

Outgoing president Donald Trump has formally agreed to start the transition process for President Elect Joe Biden, paving the way for Biden to take control on January 20.