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THE US dollar pared gains over the week after President Trump’s U-turn on talks with North Korea’s leader, cancelling the upcoming Singapore summit meeting. Simultaneously, some downward pressure on the US dollar came after the release of Federal Open Market Committee (FOMC) minutes.
THIS week’s main headline was the unrelenting rise in US 10-year Treasury bond yield. Multiple factors drove the climb, including concerns that inflation would increase sharply, which might induce the US Federal Reserve (Fed) to take a more aggressive policy stance.