2018.04.2302:23:00UTC+00Dollar Near 2-Week High, Buoyed by Rising U.S. Bond Yields

The dollar stood near a two-week high versus a basket of major currencies on Monday, buoyed by increasing U.S. bond yields, while easing concerns over global political risks added pressure on the safe haven yen.

The dollar index against a basket of six major currencies rose 0.1 percent to 90.401, staying within sight of a two-week peak of 90.477 set on Friday. The index has traded in a range of around 88.25 to 91.00 since around the middle of january.

Against the yen, the dollar notched a two-month peak of 107.89 yen, and last traded at 107.80 yen, up 0.2 percent on the day. Easing concerns over global political risks weighed on the Japanese currency, market participants said.

The euro eased 0.1 percent to $1.2274, having set a two-week low of $1.2250 on Friday. The single currency had fallen the previous week as investors reduced long positions in the euro ahead of this week's European Central Bank policy meeting at which policymakers are largely expected to signal no change in policy.

Sterling last stood at $1.4016, up 0.1 percent on the day. Last week, it lost 1.7 percent, its biggest weekly decline since early February. The pound fell last week on weaker-than-expected inflation and retail sales data and comments from Bank of England Governor Mark Carney, which traders interpreted as the BOE being less committed to raising rates in May due to recent “mixed” data.