NEW YORK: The dollar edged higher across the board on Monday, extending a rebound from the near 3-year low hit last week, taking strength from the recent spike in Treasury yields and the prospect of a growth boost from higher US fiscal stimulus.

US President-elect Joe Biden, who takes office on Jan. 20 with Democrats able to control both houses of Congress, has promised “trillions” in extra pandemic-relief spending.

US government bond yields have logged big moves in recent sessions, with the Treasury yield curve experiencing a significant increase in yields in longer-dated bonds.

Benchmark Treasury yields rose to 10-month highs on Monday as

The US dollar index was 0.4% higher at 90.636, it’s fourth straight session of gains. The index fell as low as 89.21 last weak, its weakest since March 2018.

Meanwhile, bitcoin plunged nearly 20% to a one-week low on Monday before paring losses, putting the cryptocurrency on track for its biggest one-day drop since March as its recent red-hot rally faltered.