Dollar lingers near one-month low amid lower U.S. debt yields

The dollar fell near a one-month low against major peers on Monday, with Treasury yields lingering near the weakest in five weeks, after the U.S. Federal Reserve reiterated that any spike in inflation will likely be temporary.

The dollar was held down by risk sentiment as global stocks rallied to record highs. The dollar index traded at 91.623, not far from the low of 91.484 hit last week.

The dollar stood at 108.655 against the yen, near its lowest since March 24. The euro bought $1.1958, close to its strongest since March 4. 

The 10-year U.S. Treasury yields plunged to a low of 1.5280% last week, falling from a more than one-year high of 1.7760% at the end of last month.

Dollar net short positioning fell to its lowest since June 2018 last week, according to data released by the CFTC on Friday. 

On Monday, Bitcoin remained well below the record high of $64,895.22 hit on April 14, following its weekend plunge.