The US dollar rose across the board after a pair of upbeat economic data releases.
The main driver was JOLTS, with job openings climbing to 8.098 million from 7.700 million in what could be the start of a pickup in jobs. Secondarily, the ISM services report rose to 54.1 from 53.3 with an uncomfortable rise in prices paid.
With the data, US 10-year yields rose to the highest since April, up 6 bps to 4.68%. At the same time, USD/JPY initially climbed 40 pips only to run into some resistance at the earlier highs at 158.42 before giving some back. Part of that is selling in equities with a big reversal ongoing in Nvidia.
Similarly, the euro fell 30 pips only to recoup half of that.
One slight negative in the data was the 'employment' component of the ISM services report, which slipped to 51.4 from 51.5. That comes ahead of Friday's non-farm payrolls report.
This article was written by Adam Button at www.forexlive.com. Read More Details
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