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. 

Euro fell in European trade on Monday against dollar for another session away from two-week highs on profit-taking following remarks by Fed Chair Jerome Powell.

EUR/USD fell 0.2% to 1.1871, after closing down 0.1% on Friday on profit-taking away from two-week highs at 1.1927. 

Euro rose 1.2% last week against dollar, the first weekly profit in a month, and the largest since late November. 

The largest euro weekly profit in 2021 is due to strong sentiment in the market that boosted purchases of high risk assets, while stocks in Europe and the US hit record highs. 

The dollar index rose 0.2% on Monday for the second straight session away from two-week lows at 91.99. 

The gains came after Fed Chair Jerome Powell stated in an interview that the economy is facing a pivotal point, as he expects improving growth and employment in upcoming months but warned from reopening activities too fast. 

The main US stock benchmarks closed higher on Friday, as optimism about the US economy continued.

More US states are taking measures to ease lockdown restrictions as more Covid-19 vaccines are being distributed.

The International Monetary Fund raised its projections for the global GDP to grow by 6% in 2021.

The IMF also estimated the US economy to grow to 6.4% in 2021 based on the Federal Reserve's forecasts.

Data showed that the US producer price index rose 1% in March, beating forecasts of a rise by 0.5%.

To the oil market, WTI crude May futures fell 0.5% or 28 cents, and closed at $59.32 a barrel, and posted a weekly loss of 3.5%, after hitting a high of $59.9 and a low of $59.1.

Brent May futures fell 0.4% or 25 cents, and closed at $62.95 a barrel, and posted a weekly loss of 2.9%, after hitting a high of $63.4 and a low of $62.5.

As for stocks, Dow Jones rose 0.9% or 297 points, and closed at 33,800, with a weekly gain of 2%, a day high of 33,810, and a low of 33,526.

Nasdaq rose 0.5% or 70 points to 13,900, but registered a 3.1% weekly gain, with a high of 13,905 and a low of 13,748.

S&P 500 rose 0.7% or 31 points to 4,128, and posted a weekly gain of 2.7%, after hitting a high of 4,129 and a low of 4,095.

Silver futures closed lower on Friday, as the US dollar held steadily against most of its peers, but silver managed to post weekly gains.

The International Monetary Fund raised its projections for the global GDP to grow by 6% in 2021.

The IMF also estimated the US economy to grow to 6.4% in 2021 based on the Federal Reserve's forecasts.

Data showed that the US producer price index rose 1% in March, beating forecasts of a rise by 0.5%.

The dollar index rose against a basket of major currencies 0.1% to 92.1 points as of 21:27 GMT, after hitting a high of 92.4 points and a low of 92.03 points.

Silver May futures fell 1% or 26 cents, and closed at $25.33 an ounce, with a weekly gain of 1.3%.