The US dollar remained relatively unchanged, close to three-week lows, as trade tensions eased following a deal with Japan. Trade Secretary Bessent hinted at a potential extension of the tariff truce with China beyond the upcoming deadline, which may alleviate some concerns around trade. President Trump's anticipated visit to the Federal Reserve has created apprehensions about political influences on monetary policy. Treasury yields modestly increased, reflecting improved risk appetite and declining expectations for immediate Fed rate cuts. Market attention is now on upcoming PMI data and jobless claims, which could indicate economic momentum and impact Fed policy.
The US dollar was relatively flat, hovering near three-week lows as trade tensions receded following the US-Japan deal.
Trade Secretary Bessent indicated the potential extension of the tariff truce with China beyond its August 12 deadline, easing some concerns.
President Trump's upcoming visit to the Federal Reserve may instill market unease regarding political interference in monetary policy.
Treasury yields rose modestly; the 10-year benchmark increased to 4.40%, as risk appetite improved and expectations for Fed rate cuts receded.
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