MUMBAI, Feb 20 Reuters The Indian rupee edged up on Tuesday supported by dollar inflows, even as most Asian currencies weakened on the back of elevated U.S. bond yields.

The rupee was at 82.9850 against the U.S. dollar as of 1020 a.m. IST, marginally stronger compared with its previous close at 83.0150.

The dollar index was steady near 104.4 while the 10year U.S. Treasury yield was at 4.29. The yield has risen 34 basis points in February so far, as hopes of early and sharp rate cuts by the Federal Reserve fade.

Mild dollar inflows helped lift the rupee in early trading, a foreign exchange trader at a staterun bank said.

While inflows have continued since last week, dipbuying demand on the dollarrupee pair is also present, which has kept the pair in a tight range, the trader added.

Despite some weakness in equity flows, debt inflows into India have offered support to the rupee in recent sessions, traders said.

Overseas investors have bought Indian bonds worth nearly 2 billion worth in February so far, while net selling equities worth 455 million.

The Thai baht was down nearly 0.4, leading losses among Asian currencies, while the offshore Chinese yuan rose slightly after China39;s largerthanexpected cut to a benchmark reference rate for mortgages.

The rupee may continue to trade sideways, between 82.90 83.15 in the nearterm, said Dilip Parmar, a foreign exchange research analyst at HDFC Securities.

The focus this week will be on the release of the minutes of the…