Currency Markets React to Key Data, Bitcoin Surges

The US dollar weakened against a basket of currencies as Treasury yields fell ahead of key US economic data and the Federal Reserve's upcoming monetary policy meeting. Bitcoin surged amid speculation of a potential approval of a bitcoin exchange-traded fund in the US. Market focus now shifts to the release of US economic data, including the flash purchasing managers' index (PMI) and gross domestic product (GDP) report, which could impact market expectations. The euro remained steady against the dollar, while the yen found slight relief after hitting the 150-level. Traders are closely monitoring US data, as strong results could push the yen back into the danger zone.