Dollar falls after data; focus on jobs report

Dollar falls after data; focus on jobs report

“Everyone is waiting for the payroll data to come out. If we do see a break in yields higher, I think we’ll resume a dollar-strengthening trend,” said Jens Nordvig, global head of G10 FX strategy at Nomura, referring to U.S. Treasury yields. “Even a moderately decent number could see U.S. yields trade higher.”

Yields on the benchmark 10-year Treasury note hit their highest level in 13 months at the end of May, rising to 2.17%. Yields move inversely to prices. The 10-year note is currently yielding 2.094%.

The dollar initially fell in the wake of the private-jobs data but soon recovered to pre-data levels. The dollar resumed its fall after the other data was released.