The dollar extended its rebound from near three-year lows versus major peers on Thursday, supported by higher U.S. yields, as President-elect Joe Biden prepared to outline his plans for massive fiscal stimulus. The dollar index held onto gains made on Wednesday in early Asian trading as investors continued to unwind bearish bets. The dollar has risen in four of the past five trading sessions as the prospect of more stimulus has weighed on U.S. government bonds, sending the benchmark Treasury yield above 1% for the first time since March. Biden will give details on Thursday of a plan for "trillions" of dollars in pandemic relief. Expectations that more stimulus will fuel faster growth has lifted U.S. yields, which in turn supported the dollar. However many analysts expect the currency's bounce to be temporary, as a build up of bearish dollar positions are shaken out. Longer term, they expect more U.S. stimulus to support risk sentiment, weighing on the greenback, which is traditionally considered a safe-haven. The dollar index traded little changed at 90.292 after adding 0.3% overnight. It fell as low as 89.206 on Jan. 6 for the first time since March 2018.