The U.S. dollar was higher against its most major counterparts in the Asian session on Monday, amid safe-haven demand following rising coronavirus cases and curbs in Europe, as well as hopes for a faster tapering of the QE program amid strong economic recovery.

Austria imposed a full national lockdown and Germany warned of similar measures, after COVID-19 cases continued to surge in Europe.

Asian stocks are mostly lower, as investors worry that the virus and restrictions could derail the economic recovery.

Hawkish comments from Fed Vice Chairman Richard Clarida and Fed Governor Christopher Waller intensified hopes for an earlier tightening of monetary policy.

Clarida said on Friday that the economy is "in a very strong position" and a faster tapering of the QE program is on the cards.

Waller urged to accelerate the pace of the tapering in the wake of the rapid improvement in the labour market and the hot inflation data.

Investors also await U.S. durable goods orders, GDP data, personal consumption expenditure price index and Fed minutes due this week for more direction.

The greenback rose to 114.23 against the yen and 1.1265 against the euro, up from its prior lows of 113.91 and 1.1290, respectively. The greenback is seen finding resistance around 118.00 against the yen and 1.10 against the euro.

The greenback hit a 5-day high of 0.9304 against the franc, up from last week's close of 0.9286. The greenback is likely to challenge resistance around the 0.95 level.

In contrast, the greenback weakened to 1.2636 against the loonie, 0.7256 versus the aussie and 0.7013 against the kiwi, off its early highs of 1.2658 and 0.7228 and a 5-day high of 0.6983, respectively. Immediate support for the greenback is possibly seen around 1.24 against the loonie, 0.74 versus the aussie and 0.72 against the kiwi.

The greenback eased off to 1.3449 against the pound, from a high of 1.3427 hit at 10:30 pm ET. On the downside, 1.36 is possibly seen as its next support level.

Looking ahead, U.S. existing home sales for October will be published in the New York session.

At 10:00 am ET, Eurozone flash consumer sentiment index for November will be out.

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