The dollar fell slightly on Monday as Fed Governor Christopher Waller advocated for a December rate cut, increasing the chance of a cut to 80%. EUR/USD rose due to dollar weakness and positive news about a potential peace deal in Ukraine. Gold and silver prices increased after Waller’s comments boosted demand for precious metals.

The German Nov IFO business climate unexpectedly fell, and swaps are pricing in a 2% chance of an ECB rate cut in December. USD/JPY rose as the yen was pressured by concerns about Japan’s debt burden. Precious metals initially fell due to stock market rally but recovered after Waller’s dovish comments. Central bank demand for gold remains strong.

Read more at Yahoo Finance: Dollar Slightly Lower on Fed Rate Cut Expectations