The U.S. dollar drifted weaker on Monday, pressured by lower Treasury yields, as traders waited for more crucial economic data for fresh clues on the timing of Federal Reserve interest rate cuts.

Bitcoin rose to a more than two-year peak amid big flows into cryptocurrency exchange-traded funds.

The euro was firm following Friday's 0.33% advance, with a European Central Bank policy decision looming on Thursday.

The yen stuck near the closely watched 150 per dollar level, as investors tried to assess whether the Bank of Japan's exit from its negative interest rate policy could happen as soon as this month.

The dollar index - which measures the currency against six major peers, including the euro and yen - eased 0.07% to 103.79 in early Asian trading, bringing it closer to the bottom of the 103.43-104.97 range of the past month.

Elsewhere, the euro was little changed at $1.08425, sitting near the top of its recent range.

Most economists expect the ECB will first cut rates at its June meeting, but will be hoping for additional clues on the timing from central bank head Christine Lagarde's press conference.

Bitcoin was last trading about 1.5% higher from Sunday at $63,500, after earlier reaching $64,284.75, the firmest since November of 2021, the same month it marked its record high of $68,999.99.

Source: Reuters