The euro was steady at US$1.1558 and sterling has been creeping higher to US$1.3177.

A deal that would restore US federal funding and end the longest shutdown on record cleared an initial Senate hurdle late on Sunday, though it was unclear when Congress would give its final approval.

A gain of about 0.7% for the Australian dollar to US$0.6536 and a drop in the yen to ¥154.11 per dollar were the biggest movers in the wake of the breakthrough.

A break of ¥154.48 would take the yen to its weakest in nine months.

Analysts said their moves could be vulnerable to reversal if the path to inking the shutdown deal dragged much beyond this week.

There are still several Senate hurdles to clear.

House of Representatives speaker Mike Johnson said his chamber could pass the bill as soon as tomorrow and send it on to President Donald Trump to sign into law, if the Senate acts quickly.

“Reopening by Nov 15 is just about fully priced in for now, so any deviation or delays from that could be viewed as risky for this rebound in liquidity,” said Brent Donnelly, president at analytics firm Spectra Markets.

New Zealand inflation expectations, British weekly wage data and Germany’s ZEW sentiment survey are due later in the session.

The New Zealand dollar has been under pressure for months as the economy slows and had hit a 12-year low against the Australian dollar today, reflecting a divergent outlook for interest rates in the Antipodes.