Dollar pinned down by lower U.S. yields, inflation data in focus

Dollar pinned down by lower U.S. yields, inflation data in focus

The dollar index, which tracks the greenback against a basket of six rivals, was little changed at 92.193 early in the Asian session, following a 0.9% slump last week. It dipped below 92 on Thursday for the first time since March 23.The benchmark 10-year Treasury yield was at 1.6745% after dropping as low as 1.6170% last week. It had surged to a more than one-year high of 1.7760% on March 30."Key for the near-term outlook will be whether yields continue to consolidate around these levels, or march higher," which would support the dollar, National Australia Bank strategist Tapas Strickland wrote in a client note."The broader thematic of a rapid rebound in the U.S. economy on the back of an impressive vaccine rollout continues."Data on Friday showed the largest annual gain in 9-1/2 years for U.S. producer prices, backing expectations for higher inflation as the economy reopens amid an improved public health environment and massive government funding.  U.S. consumer price data will be released Tuesday.Fed Chair Jerome Powell speaks on Wednesday at the Economic Club of Washington. In an interview on Sunday on CBS's "60 Minutes," Powell said the U.S. economy is at an "inflection point" with expectations that growth and