"Dollar Strengthens on Rising T-Note Yields, Gold Prices Decline

The US dollar index rose by +0.30% due to stronger T-note yields, reaching a 1.5-week high. President Trump signaled openness to tariff negotiations, limiting dollar gains. EUR/USD fell by -0.15%, influenced by weaker German trade data and optimism about a US-EU trade deal. Swaps show a 5% chance of an ECB rate cut.

USD/JPY increased by +0.57% as the yen hit a 2-week low against the dollar ahead of Japan’s upper house election. Rising T-note yields and fiscal concerns in Japan are factors. The Japan Jun eco watchers outlook survey rose to a 4-month high.

Gold and silver prices declined due to the stronger dollar and higher global bond yields. President Trump’s openness to tariff negotiations eased tensions, reducing safe-haven demand. Rising inflation expectations and central bank gold buying support gold prices.

Read more at Yahoo Finance: Dollar Firms on Rising T-Note Yields