The dollar was pinned near a onemonth low to major peers on Monday, with Treasury yields hovering near the lowest in five weeks, after the U.S. Federal Reserve reiterated its view that any spike in inflation was likely to be temporary.
The safehaven greenback was also held down by improved risk sentiment amid a rally in global stocks to record highs.
Bitcoin nursed losses from Sunday, when it plunged by as much as 14 to 51,541. It last traded around 57,020.
The dollar index, which tracks the currency against six rivals, was at 91.623, not far from the low of 91.484 marked last week, a level not seen since March 18.
The greenback bought 108.655 yen, near the lowest since March 24.
The euro changed hands at 1.1958, near the highest since March 4.
The fixedincome market will dominate my world this week, with the risk currently skewed to further U.S. yield declines, pressuring the dollar, Chris Weston, head of research at Pepperstone Markets Ltd, a foreign exchange broker based in Melbourne, wrote in a client note.
Wall Streets gains amid low volatility should keep USD rallies contained and attract further USD sellers, he wrote.
Benchmark 10year yields could fall to as low as 1.47, from around 1.57 currently, according to Weston.
Key technical points are 91.30, the March 18 low, for the dollar index, and 1.2000 for the euro, which could trigger a run to 1.22, he said.
The 10year Treasury yield sank to as low as 1.5280 last week, from a morethanoneyear high of…