A gauge of the dollar stayed in a narrow range amid US President Donald Trump's decision to proceed with tariffs on Canada and Mexico as well as his administration's plans to add restrictions on China's chip sector.
The Bloomberg Dollar Spot Index was little changed. Euro inched up 0.1% to 1.0476 as Germany's chancellor-in-waiting Friedrich Merz is said to have opened talks with the Social Democrats to quickly approve as much as €200 billion ($210 billion) in special defense spending
Treasury yields eased across the curve, with the 10-year yield down two basis points to 4.38%, ahead of speeches from Federal Reserve officials later in the day.
Trump's policies will be less inflationary than many expect and will likely drag the 10-year Treasury yield "comfortably below 4%" over the next year, according to Ariel Bezalel, an investment manager at Jupiter Asset Management.
USD/JPY steady at 149.76 after swinging between gains and losses. AUD/USD little changed at 0.6356. GBP/USD steady at 1.2630.
Source: Bloomberg
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