Dollar Gains on Euro Weakness and Higher T-note Yields

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Summary · why it matters

The dollar index rose 0.17% on Monday, nearing a 13-month high, as the euro weakened after ECB President Christine Lagarde pushed back against additional monetary tightening due to the US-Iran war. Higher T-note yields also strengthened the dollar's interest rate differentials. The euro fell 0.42% to just above a 3-month low following Lagarde's comments, though losses were limited by a stronger-than-expected Eurozone consumer confidence index. The yen tumbled to a 23-month low against the dollar, pressured by a rally in the Nikkei Stock Index to a record high and higher T-note yields, while Japanese Finance Minister Satsuki Katayama warned of appropriate action in the currency market. August COMEX gold closed down $43.20, or 1.02%, and July COMEX silver closed down $0.736, or 1.11%, as dollar strength and progress in US-Iran peace talks reduced safe-haven demand.

Impact on assets 4

Others± Mixed · 4 stocks
⛏Gold Futures
GOLD
▼ NegativeMonetaryrelevance

Dollar strength and progress in US-Iran peace talks reduce safe-haven demand.

⛏Silver Futures
SILVER
▼ NegativeMonetaryrelevance

Dollar strength and progress in US-Iran peace talks reduce safe-haven demand.

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