Supported by higher Treasury yields … the dollar is rising from its nearly 3-week low

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The dollar rose from a nearly three-week low against the main rivals today, Tuesday, supported by a rise in US Treasury bond yields, as investors awaited closely watched US inflation data, which is scheduled for release later today.
The dollar had retreated, as did US bond yields this month, after rising to a multi-month high, supported by expectations that massive fiscal stimulus coupled with continued monetary easing would stimulate faster economic growth in the US and raise inflation.
The dollar index rose 0.2 percent to 92.281 in the Asian trading session, moving away from the low it reached on Thursday at 91.995, which was the lowest since March 23. It had climbed to a peak of nearly five months at 93.439 in the last day of March.
The yield on record US Treasury bonds rose about two basis points to 1.6926 percent today, but they are still trading well below the 1.7760 percent level reached on March 30, which was the highest in more than a year.
Against the euro, the dollar rose 0.2 percent today to $ 1.18890.
The greenback rose 0.3 percent to 109.73 yen after dropping below the 109 level last week for the first time since March 25.
The Australian dollar fell 0.3 percent to $ 0.75990, while the British pound fell 0.1 percent to $ 1.37305.
In terms of cryptocurrencies, Bitcoin rose slightly to 60 thousand and 369.01 dollars, to be closer to its highest levels ever at 61 thousand and 781.83 dollars, which it reached a month ago.
(Reuters)




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