The dollar index fell to a 1.75-month low after the FOMC cut rates and announced plans to boost liquidity and purchase T-bills. Jobless claims rose, but the Sep trade deficit shrank unexpectedly. Trump’s potential appointment of a dovish Fed Chair weighs on the dollar.

EUR/USD rose to a 2.25-month high on dollar weakness and ECB optimism. USD/JPY fell as Japan’s business confidence rose. Gold and silver prices climbed, driven by a weaker dollar, Fed liquidity injections, geopolitical uncertainty, and central bank demand for gold.

Central bank demand for gold is strong, with China’s PBOC increasing reserves. Silver faces tight inventories in China. Precious metals prices have seen long liquidation pressure but rebounded recently.ETF holdings have fallen, but silver ETF demand has risen to a 3.25-year high.

Read more at Yahoo Finance: Dollar Tumbles as Fed Boosts Liquidity