The dollar has traded mixed in London, losing ground to the yen, while firming up versus the CAD and pound. EUR-USD plied a narrow range, centered by the 1.1350 level. Following Fed chief Yellen's testimonies this week, which sent the baseline message that the Fed is in not immediate rush to tighten policy, the dollar's yield advantage has shrunk to the 162 bp area at the 10-year T-note versus Bund level, down about 10-13 bp from Monday. USD-JPY recovered briefly to the 119.00 area, though persistent selling at the figure remains in place.
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