The dollar gave up some of its recent gains in early Monday trading, as investors assumed that U.S. President-elect Donald Trump's nomination of Scott Pence as Treasury Secretary would reassure bond markets and lower yields.
The yield on the 10-year Treasury note also fell to 4.351 percent from 4.412 percent last Friday after the bond market welcomed Trump's choice of Scott Bessent as Treasury secretary.
The dollar index was last down 0.5 percent at 106.950 after hitting a two-year high of 108.090 on Friday, Reuters data showed.
The dollar fell 0.4 percent against the yen to 154.18 yen, moving further away from its recent high of 156.76 yen.
The euro rose 0.7 percent to $1.0496, pulling away from a two-year high of $1.0332, while sterling touched a six-week low of $1.2484 on Friday. It rose 0.4 percent to $1.2591 in early trade on Monday, but remained just below last week’s high of $1.2714.
As for cryptocurrencies, Bitcoin fell 1.2 percent to $98,208 after profit-taking.
Bitcoin has jumped more than 40 percent since the U.S. election, supported by expectations that Trump will ease regulatory restrictions on cryptocurrencies.
