The US dollar and yen fell High risk currencies get favored

12 Jul, 2021

Minutes of the June meeting of the European Central Bank: US inflation may be a harbinger of the euro zone. In the medium term, there may be an upward risk of inflation in the eurozone.

The dollar index fell 0.28% to around 92.11, while the yield on us 10-year Treasury bonds rose about 6 basis points to 1.35%. Some weak data recently released by the United States, together with the surge of new crown cases in many parts of the world, have exacerbated the concern that the global economic recovery is losing momentum.

Spot gold rose for the third consecutive week, up 1.18% this week to close at US $1808.32/oz. Concerns that the coronavirus variant may endanger the economic recovery stimulated investors to buy at risk. COMEX gold futures for August ended up 0.6% at $1810.60/oz, up 1.53% last week for the third consecutive week.

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