Contrary to the USD Index, the US Treasury yields have faced pressure. The 10-year US Treasury yields have dropped to near 3.37%.

For further guidance, Wednesday’s US inflation data will be keenly watched. Moderation in the headline Consumer Price Index (CPI) is highly expected as gas prices remained lower in March due to weak oil prices. The core inflation that excludes oil and gas prices is expected to show a surprise upside as average earnings by households are highly solid.