US dollar strengthens against yen and pound due to trade tensions and weak economic data.

The US dollar is up by 0.30% due to trade tensions with Japan, causing the yen to retreat. GBP/USD fell to a 1-week low amidst UK political turmoil. The June ADP employment change dropped by 33,000, the first decline in over two years, leading to a 25% chance of a rate cut at the FOMC meeting.

The euro is down by 0.41% against the dollar as Eurozone unemployment unexpectedly rose to 6.3%. ECB members expressed concerns about inflation below target, with swaps pricing in a 5% chance of a rate cut at the July 24 meeting. President Trump’s comments on Japan tariffs also impacted the yen negatively.

Precious metals are mixed, with gold down by 0.10% and silver up by 0.20%. The stronger dollar and easing Middle East tensions have affected prices. Precious metals received support from the weakened US labor market and increased trade tensions with Japan. Dovish comments from ECB members also influenced prices.

Read more at Yahoo Finance: Dollar Gains on Weakness in the Yen and British Pound