The dollar retreated on Tuesday against the euro and the pound in a market that regained a taste for risk after the holidays with a recovery plan for the American economy finally ratified.

Around 10:35 a.m. GMT (11:35 a.m. in Paris), the dollar fell 0.28% against the euro, at 1.2251 dollars for one euro, and 0.29% against the pound, at 1.3492 dollars for one. delivered.

Less than a month before his departure from the White House, Donald Trump made a spectacular U-turn on Sunday evening: the American president abruptly ratified, after days of resistance, the new economic recovery plan of 900 billion dollars granting support for households and small businesses.

“Risk assets are rising because such a budget would raise US growth forecasts and eliminate a source of uncertainty weighing on the market,” commented Stephen Innes, analyst at Axi.

Investors had also moved away from more volatile assets ahead of the holidays, he said, fearing sharp price moves due to lack of volume.

The British pound took advantage of the greenback's bout of weakness without completely erasing its losses from the previous day.

"Between the lingering concerns over Covid-19 and Brexit, and the fact that traders had generally bet on a rise in the pound, there is not much room for upside," said Jeffrey Halley, analyst at Oanda.

The representatives of the Twenty-Seven gave the green light Monday to a provisional application on January 1 of the post-Brexit trade agreement reached on December 24, pending approval by MEPs expected by the end of February.

Bitcoin, which jumped over the Christmas weekend to reach its all-time high on December 27, at $28,365.06, has since fallen sharply. As of Tuesday, one bitcoin cost $26,751.56, according to data compiled by Bloomberg.

"Maybe the market is starting to run out of steam," said Naeem Aslam, an analyst at Ava Trade.