The dollar hit its lowest in two and a half years in early London trading on Monday while riskier currencies dipped slightly as the global equities rally halted for a breather.Global market sentiment soared in November, causing the dollar to drop and volatile currencies to benefit, as investors’ risk appetite was fueled by Joe Biden’s victory in the US presidential election, a series of positive coronavirus vaccine developments and hopes for further stimulus.The dollar was set for its largest monthly loss in opposition to a bunch of currencies in July, having wiped 2.5% off its value in November. At 0836 GMT it was at 91.654.The New Zealand dollar, which is on track for its largest monthly gain since 2013, hit a new two-year high overnight, then declined steadily. In early London trading, it was flat on the day at 0.7034 opposing the dollar.