XE Market Analysis: Europe – Jul 12, 2019

The USD traded softer heading into the London interbank open, retracing from of the gains seen yesterday following a near 10 bp spike in the 10-year U.S. T-note yield, which touched a one-month high at 2.143%. This came as the S&P 500 and DJIA hit record highs. The narrow trade-weighted USD index (DXY) ebbed to a 96.89 low earlier, though has remained above yesterday’s one-week low at 96.80, which was seen ahead of the perkier than expected core CPI and jobless claims data out of the U.S.