Euro under pressure from surging US yields

Euro declined in European trade against dollar on track for the second loss in three days, as US treasury yields climb ahead of US inflation data.

EUR/USD fell 0.25% to 1.1882, after closing 0.1% higher yesterday following strong European data that showed retail sales beat estimates in February.  

The dollar index rose 0.2% on Tuesday against a basket of major and minor rivals as investors shun high risk currencies. 

US 10-year treasury yields rose 1.5% today for the third straight session, marking week highs at 1.701%. 

Later US data might show an accelerated pace of inflation during March, underpinning long-term yields further.