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Home Gold News Dollar Slips as Treasury Yields Decline,Gold and Oil Rally

Dollar Slips as Treasury Yields Decline,Gold and Oil Rally

by anna

Anticipation of upcoming Federal Reserve rate cuts continued to weigh on the U.S. dollar, which fell to 140.36 yen, marking its weakest level since December. The dollar index, measuring the greenback against six major currencies, dipped to a one-week low of 101.00 before seeing a slight recovery.

U.S. Treasury yields also declined, with the 10-year yield falling by 2.1 basis points to 3.66%, while the two-year yield, closely tied to rate expectations, dropped 5.9 basis points to 3.58%.

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Gold maintained momentum, heading for its strongest weekly gain since mid-August, up 0.9% to $2,581.70 per ounce. The weaker dollar and increasing expectations for aggressive Fed rate cuts fueled the rally in the precious metal.

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Oil prices also gained in late trading, recovering as U.S. production resumed after the disruption caused by Hurricane Francine. U.S. crude rose 0.29% to $69.17 per barrel, while Brent crude increased by 0.13% to $72.06 per barrel.

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