The greenback is losing some ground to start the day

The dollar is down to session lows across the board, alongside the yen as we see a more "risk-on" push in European morning trade. Stocks are posting firm gains while Treasuries are offered, and that is keeping the greenback lower as well.

EUR/USD is up to a session high of 1.1675, closing in on its 100-hour moving average @ 1.1681 while AUD/USD is contesting its 200-hour moving average @ 0.7083 now:

AUD/USD H1 03-11

Break above that and the near-term bias in the pair turns more bullish with buyers set to eye the 0.7100 level next.

Elsewhere, GBP/USD is also climbing above its 100-hour moving average of 1.2943 to a session high of 1.2958 currently.

In short, the near-term levels are shifting and they are growing to be less favourable for the dollar ahead of the start of voting later today.

It could be the market starting to speculate on the result, with the final polls still suggesting a 'blue wave' to take hold, which bodes well for stimulus.