TOKYO, 6 April, 2021, (TON): The Dollar dropped to an almost two-week low versus its peers on Tuesday, moving in tandem with retreating Treasury yields from recent peaks despite signs of a robust U.S. economic recovery. 
The dollar index tumbled at its lowest level since March 25, slipping further in early Asian trading following a 0.4% decline on Monday. The softer turn comes after it hit an almost five-month peak on Wednesday, last week. 
The yen continued to recover from a more than one-year low near 111 per dollar, briefly strengthening back below 109 on Tuesday. The euro extended its rise from a nearly five-month trough close to $1.17 to trade as high as $1.1821.  

The greenback has risen strongly this year, along with Treasury yields.  

The Australian dollar, considered a proxy for risk appetite, edged higher to $0.7657 after rallying 0.8% to start the week. The Reserve Bank of Australia will announce a policy decision later on Tuesday, with no change expected. 

But the dollar’s drop this week even after Friday’s much-stronger-than-expected monthly payrolls data was followed on Monday by the highest reading for services industry activity on record may indicate that much of the bullish outlook is priced in for now. 

According to data and market trackers CoinGecko and Blockfolio, the cryptocurrency market capitalization hit an all-time peak of $2 trillion on Monday, as gains over the last several months attracted demand from both institutional and retail investors.