The dollar index is up +0.11% due to a jump in T-note yields, with expectations of a 25 bp Fed rate cut. President Trump may nominate Kevin Hassett as the next Fed Chair, who is seen as dovish. Euro strength is weighing on the dollar.

EUR/USD is down -0.12% from the dollar’s recovery today. Eurozone economic data was better than expected, as ECB comments and central bank policies support the euro. The Eurozone Dec Sentix index and German Oct industrial production exceeded expectations.

USD/JPY is up +0.31% as the yen weakens from poor Japanese GDP and eco-watcher news. Expectations of a BOJ rate hike limit losses, with higher JGB yields. Japan Q3 GDP was revised down to -2.3%, and the eco watchers index fell.

Gold and silver prices fell due to a stronger dollar, higher bond yields, and hawkish central bank comments. Precious metals have safe-haven demand, and central bank demand is strong. Silver has support from tight Chinese inventories and fund demand.

Long liquidation pressures have weighed on precious metals prices since mid-October. ETF holdings have fallen, but fund demand for silver has rebounded. Rich Asplund does not have positions in mentioned securities. Information is for informational purposes only.

Read more at Yahoo Finance: Dollar Climbs with T-Note Yields