The US dollar index is down by -0.54% today due to strength in stocks reducing liquidity demand for the dollar, along with lower T-note yields. June leading economic indicators fell 0.3% as expected. Future rate cuts are priced at 5% for July and 58% for September FOMC meetings.

The euro is up by +0.47% against the dollar today, driven by a weaker dollar and expectations that the ECB is nearing the end of its easing cycle. Concerns about potential higher tariffs on EU goods could limit gains in the euro. Swaps price in a 1% chance of a rate cut by the ECB.

USD/JPY is down by -0.96% as the yen gains against the dollar on news of the LDP losing its majority in Japan’s upper house elections. Concerns about fiscal deterioration due to increased spending and tax cuts may limit the yen’s upside. Japanese markets are closed for the Marine Day holiday.

Gold and silver prices are up today, with gold reaching a 4-week high. Dollar weakness and lower global bond yields are boosting precious metals. Safe-haven demand is also supporting prices amid global trade tensions. Fed interest rate cut expectations add to the bullish sentiment for gold and silver.

Read more at Yahoo Finance: Dollar Slips Due to Strength in Stocks and Lower T-note Yields