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Dollar extends higher after US data as yields rise further- EUR/USD gives it back

The dollar took a while to react to the US data releases today, but eventually that has pushed the US currency higher. The driver for that has come from further upside in US Treasury yields. The 2 Year note has not risen above 4.98 and hence testing that 5% level again. That has helped to lift the USD/JPY back above 154.50. That in turn has forced the EUR/USD back below 1.0650 a short while ago. The GBP/USD is well off earlier session highs (1.2485) too. However, when all is said and done, we are not talking huge moves across any of the major pairings today and FX volatility in that domain remains subdued. The EUR/USD reached 1.0690 earlier today. It has since fallen back to a session low this afternoon, at 1.0646. So, the next noted resistance level at 1.0709 has not come into play and the way things stand right now, it would seem unlikely to do so. 
 

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