The dollar index fell by -0.65% to a 1-week low, as the S&P 500 hit a new record high, reducing liquidity demand. US June leading economic indicators fell 0.3% m/m. EUR/USD rose by +0.58% on Monday due to dollar weakness and expectations of ECB nearing end of easing cycle.

Federal funds futures prices indicate a 3% chance of a -25 bp rate cut at July’s FOMC meeting and 58% chance in September. Swaps price in a 2% chance of ECB rate cut on Thursday. USD/JPY fell by -0.99% as yen rallied post Japanese elections.

Gold and silver prices closed higher on Monday, with gold reaching a 4-week high. Dollar weakness, lower bond yields, and safe-haven demand due to global trade tensions supported precious metals. President Trump’s tariff announcement also boosted prices.

Read more at Yahoo Finance: Dollar Falls as Stocks Rally and T-note Yields Decline