The US dollar climbed on better-than-expected data on the services sector.
The ISM survey survey was relatively steady in June at 55.3 from 55.9 a month earlier. That beat the consensus estimate of 54.3. The 'production' survey was particularly strong, showing that near-term activity remains strong.
That report was coupled with one showing that US job openings remain at extraordinarily high levels.
USD/JPY was the main beneficiary as it rose to 135.91 from 135.40 before the release. The pair is benefiting from a reversal in Treasury yields. 2-years are now up 9 bps to 2.90% from a low of 2.76%.
Aside from USD/JPY, the moves are more tempered. The euro and pound have come under slight selling pressure while AUD/USD is more pronounced at 0.6777 from 0.6800 pre-release.
