Dollar weakness is a consensus trade in 2021 as the trend continues. Oftentimes the consensus is wrong but it wasn't on the dollar -- at least in the first few hours of trading.
The dollar is still near the bottom of the major currency market today (ahead of only GBP) but it's recouped some losses in the past few hours. Some of that comes with Treasury yields ticking higher.
It was last 0.14% weaker at 89.640 and not far above last week's more than two-and-a-half-year low of 89.515. Bitcoin on Monday was off Sunday's record high of $34,800 at $32,340. An enormous rally has carried it up 800% since March as institutional investors seem to have turned buyers.
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