After an initial rise, sterling fell as much as 0.56% against the dollar to a low of $1.2691 following this month's inflation figures. Investors and money managers now turn their focus to Fed chief Jerome Powell's testimony before Congress at 10:00 a.m. "The former may do more to give additional support to send the dollar index and (bond) yields higher." The rally against the yen pushed the U.S. dollar index , which measures the currency against six major peers, up slightly to 102.58. "The Aussie could dip below 0.6700 this week, particularly if Powell is hawkish," he said.

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Persons: Powell, Jerome Powell's, Adam Cole, Kazuo Ueda, Tuesday's, Joe Capurso, Bitcoin, Charles Schwab, Tom Westbrook, Farouq Suleiman, Sam Holmes, Kim Coghill, Sharon Singleton Organizations: Federal, RBC Capital Markets, Bank of Japan, U.S, Commonwealth Bank of Australia, Fidelity, Citadel Securities, Thomson Locations: SINGAPORE, LONDON, Asia, Pacific, China, Tokyo