The dollar index is down due to expectations of Fed rate cuts through 2019, with Treasury Secretary Bessent suggesting a possible 50 basis point cut in September. Markets are speculating on a -50 basis point rate cut next month, based on recent economic data. The federal funds futures market is pricing in a 100% likelihood of a -25 bp rate cut in September. President Trump extended the tariff truce with China and announced new tariffs on semiconductor imports and products from India. EUR/USD is up, but sentiment remains cautious. Gold and silver prices are higher on weaker dollar and rate cut talk, with safe-haven demand due to geopolitical risks.

Read more at Yahoo Finance: Dollar Continues Lower on US Rate-Cut Expectations