FOREX-Dollar pinned down by lower U.S. yields, inflation data in focus – Investing.com India

FOREX-Dollar pinned down by lower U.S. yields, inflation data in focus – Investing.com India

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5EBy Kevin BucklandTOKYO, April 12 (Reuters) - The dollar languished near 2-1/2-week lows against major peers on Monday as a decline in Treasury yields restrained the U.S. currency.Both the greenback and bond yields are taking something of a breather after scaling multi-month peaks at the end of last month, powered by bets that an accelerating U.S. recovery from the pandemic will lift inflation faster than Federal Reserve policymakers anticipate.While the Fed's repeated insistence that near-term price pressures will prove transitory has somewhat soothed investors, the dollar firmed on Friday following stronger-than-expected producer price data, taking the edge off the currency's worst week this year.The =USD , 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