US dollar edges higher as Empire Fed ticks up

The Australian dollar is at a one-week low against the US dollar as USD climbs broadly higher following a beat in the June Empire Fed manufacturing survey.

The main reading was -6 from -9 but new orders jumped to -1.0 from -16.2 and the six-month index hit a two-year high. The US dollar was already moderately higher ahead of the data and extended further after the report.

AUD/USD is down 24 pips on the day to a one-week low and threatening the June low, which would mark a six-week low.

The US dollar is also stronger elsewhere as Treasury yields rise. US 10-year yields are up 5.6 basis points to 4.267% in the first climb following four days of declines.

That’s helped to boost USD/JPY a half-cent on the day to 157.89, which is a three-day high.

This article was written by Adam Button at www.forexlive.com.