US dollar slides alongside Treasury yields. The week to close out with a heavy data slate

<p>The US dollar has given back earlier gains as Treasury yields turn lower. US 10-year yields rose as high as 4.01% early in New York trade but they've since fallen to 3.91%. That turn has weighed on the dollar and sapped earlier gains against the euro and yen.</p><p>USD/JPY remains up 125 pips on the day to 143.24 but had traded as high as 143.75.</p><p>It's the start of a new year and I think flows are dominating. A return to 142.35 would get this pair back to where it was on Christmas Day as some of the illiquid moves are sorted out.</p><p>GBP/USD is the best performer today and hit a session high of 1.2676 a short time ago, but it comes after a rout yesterday. Again, this pair is now close to where it was the day before Christmas so I wouldn't read too much into it.</p><p>The week closes out with a heavy data slate of US releases.</p><p>Thursday (all times Eastern):</p><ol><li>8:15 AM – ADP Employment Change (Dec)</li><li>8:30 AM – Initial Claims (Dec 30 week) </li><li>8:30 AM – Continuing Claims </li><li>9:45 AM – S&amp;P Global US Services PMI (Dec) </li></ol><p>Friday:</p><ol><li>8:30 AM – Non-Farm Payrolls (Dec) </li><li>8:30 AM – Unemployment Rate (Dec)</li><li>8:30 AM – Average Hourly Earnings All Employees (Dec)</li><li>8:30 AM – Goods &amp; Services Trade Balance (Nov) </li><li>10:00 AM – ISM – Services (Dec) </li><li>10:00 AM – Factory Orders M/M (Nov)</li><li>10:00 AM – Durable Goods Orders M/M (Nov) </li><li>10:00 AM – Durable Goods Orders Ex-Trans M/M (Nov) </li></ol>

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