Graphic: World FX rates https://tmsnrt.rs/2RBWI5E Fed speakers...

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    • Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
    • Fed speakers expected to repeat that rates will remain low
    • Dollar loses ground as Treasury yields stall
    • Yen falls on crosses as economic concerns grow

    The dollar plumbed a six-year trough against the Canadian dollar and teetered near multi-month lows versus European currencies amid renewed expectations that the United States will not hike interest rates anytime soon.

    Dallas Federal Reserve President Robert Kaplan on Monday reiterated his view that he does not expect interest rates to rise until next year, fuelling a further decline in bets that inflationary pressure could force the Fed to act sooner.

    This week a host of Fed policymakers are scheduled to speak, and the U.S. central bank will also release minutes from its most recent meeting, which may give indications about where monetary policy is headed this year.

    However, the growing consensus is that the Fed will tolerate what it sees as a temporary acceleration in inflation, which will keep the dollar lower against most major currencies.

    "The most important point is where are yields headed," said Junichi Ishikawa, senior foreign exchange strategist at IG Securities. "Yields are capped, reflecting expectations that U.S. monetary policy will remain easy," Ishikawa added.

    "This places the dollar under downward pressure." Against the euro EUR=D3 , the dollar traded at $1.2167, close to the weakest since Feb. 26.

    The British pound GBP=D3 rose to $1.4174 to reach its strongest since late February.

    Sterling has been buoyed recently as investors cheer the gradual lifting of strict coronavirus restrictions.

    The Canadian dollar CAD=D3 advanced to a six-year high of C$1.2045 against the greenback, aided by a rise in oil prices.

    The dollar held steady at 109.16 yen JPY=D3 . The currency pair has been locked in a narrow range amid worries about Japan's slow pace of vaccinations and weakness in the greenback.

    The yen fell against the British pound GBPJPY= and the Antipodean currencies AUDJPY= NZDJPY= after data showed Japan's economy contracted more than expected due to coronavirus infections.

    Some investors were already scaling back expectations for a Fed rate hike this year, and Kaplan's comments gave traders even more incentive to sell the dollar.

    The onshore yuan CNY=CFXS edged up to 6.4332 per dollar, not far from an almost three-year high reached last week.

    The Australian AUD=D3 and New Zealand dollars NZD=D3 also rose against their U.S. counterpart.

    In the cryptocurrency market, bitcoin BTC=BTSP rose 2.91% to $44,860 but was still close to a three-month low amid doubts about Tesla's boss Elon Musk's enthusiasm for the digital asset.

    Rival digital currency ether ETH=BTSP edged up to $3,390, steading from a two-week low reached on Monday.

    ======================================================== 
    	Currency bid prices at 0200 GMT 
    
     Description	  RIC		 Last		   U.S. Close  Pct Change	 YTD Pct	 High Bid	Low Bid 
    											  Previous				   Change				  
    											  Session											
     Euro/Dollar	   EUR=EBS	$1.2167		$1.2152	 +0.12%		 -0.43%	  +1.2168	 +1.2153 
     Dollar/Yen		JPY=EBS	109.1600	   109.1750	+0.00%		 +5.70%	  +109.2750   +109.1300 
     Euro/Yen		 																			 
     Dollar/Swiss	  CHF=EBS	0.9020		 0.9033	  -0.11%		 +1.99%	  +0.9035	 +0.9023 
     Sterling/Dollar   GBP=D3	 1.4170		 1.4139	  +0.23%		 +3.73%	  +1.4173	 +1.4135 
     Dollar/Canadian   CAD=D3	 1.2046		 1.2068	  -0.17%		 -5.39%	  +1.2071	 +1.2045 
     Aussie/Dollar	 AUD=D3	 0.7788		 0.7770	  +0.23%		 +1.23%	  +0.7793	 +0.7765 
     NZ				NZD=D3	 0.7236		 0.7216	  +0.28%		 +0.77%	  +0.7237	 +0.7211 
     Dollar/Dollar																				   
    

    All spots FX= Tokyo spots AFX= Europe spots EFX= Volatilities FXVOL= Tokyo Forex market info from BOJ TKYFX

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    World FX rates	https://tmsnrt.rs/2RBWI5E 
    
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