The Dollar is showing modest gains versus most currencies heading into the London interbank open, underpinned by the further rise in U.S. 10-year T-note yield yesterday, which lifted to five-week highs, pushing towards the 3.0% level again amid market speculation that Friday’s advance U.S. Q2 GDP report will top the median forecast for 4.1% y/y growth. The USD index (DXY) lifted to two-session highs, while EUR-USD printed a two-session low of 1.1666. USD-JPY, in contrast, has traded with little direction in the lower 111.0s after yesterday printing a three-day low at 110.75.
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