Forexlive Americas FX news wrap: Dollar steady, equities ignore rising yields

<ul><li><a href="https://www.forexlive.com/centralbank/boes-pill-there-are-risks-on-both-sides-of-uk-inflation-20230807/">BOE's Pill: There are risks on both sides of UK inflation</a></li><li><a href="https://www.forexlive.com/news/us-july-employment-trends-11545-vs-11431-prior-20230807/">US July employment trends 115.45 vs 114.31 prior</a></li><li><a href="https://www.forexlive.com/Cryptocurrency/paypal-launches-stablecoin-20230807/">PayPal launches stablecoin</a></li><li><a href="https://www.forexlive.com/news/manheim-us-july-used-vehicle-price-index-16-mm-20230807/">Manheim US July used vehicle price index -1.6% m/m</a></li><li><a href="https://www.forexlive.com/centralbank/feds-bowman-repeats-that-she-expects-additional-rate-increases-20230807/">Fed's Bowman repeats that she expects additional rate increases</a></li><li><a href="https://www.forexlive.com/news/goldman-sachs-commodity-analyst-jeff-currie-to-retire-20230807/">Goldman Sachs commodity analyst Jeff Currie to retire</a></li><li><a href="https://www.forexlive.com/centralbank/feds-williams-does-not-rule-out-possibility-of-rates-cuts-next-year-20230807/">Fed's Williams does not rule out possibility of rates cuts next year</a></li></ul><p>Markets:</p><ul><li>Gold down $6 to $1953</li><li>US 10-year yields up 3.1 bps to 4.09%</li><li>WTI crude oil down 35 cents to $82.47</li><li>S&amp;P 500 up 43 points to 4540</li><li>GBP leads, JPY lags</li></ul><p>There wasn't much for the market to digest on Monday in North American trading. The dollar came into the session fairly strong but lost some minor ground, particularly against the euro and pound. It made some headway against the yen as yields moved up.</p><p>What was somewhat of a chance from the usual correlation was that equities were strong without the backing of falling yields or a broadly rising risk trade with stronger commodities. It was stocks alone and without the help of Apple as it continued to sag following Friday's decline. Travel and consumer-facing stocks did well but participation was thin as the small cap Russell 2000 finished flat.</p><p>Commodity currencies took the day off literally and figuratively as they finished very close to unchanged on the day and with Canada on holiday. Oil prices dipped early despite the Ukraine attacks on a Russian tanker but crude bounced late to finish only modestly lower.</p><p>The main mover on the day was the yen as the market sorts through the Bank of Japan's policy and the rise in Treasury yields. Japanese household spending and wage data is coming up later and will be a data point to watch.</p>

This article was written by Adam Button at www.forexlive.com.