"ISM services reading reminded investors that there is still some underlying momentum for this economy and it really kind of opens the door for the Fed to be even more aggressive with fighting inflation," said Edward Moya, senior analyst with OANDA. [USD/] Benchmark U.S. 10-year Treasury yields rose to their highest level since June 16 on expectations the Fed will keep hiking interest rates to tame soaring prices. The U.S. central bank has raised its benchmark overnight interest rate by 225 basis points in total since March to fight soaring inflation.