Dollar Rises From Near Three Week Low

Dollar Rises From Near Three Week Low

13 Apr 2021 11:00 AM
 

The dollar rose from near a three-week low against major rivals on Tuesday, buoyed by a bump in Treasury yields, as traders awaited highly anticipated U.S. inflation data later in the day.

The greenback has eased back along with U.S. yields this month after surging to multi-month peaks on expectations that massive fiscal stimulus coupled with continued monetary easing will spur faster U.S. economic growth and higher inflation.

The dollar index, also known as DXY, added 0.2% to 92.281 in the Asian session, moving away from Thursday's low of 91.995, which was the weakest since March 23. It had rallied to a nearly five-month high of 93.439 on the last day of March.