In response to Trump’s 90-day tariff pause, the European Union will delay retaliatory levies on American goods as countries within the bloc scramble to reach trade deals with Washington, said European Commission chief Ursula von der Leyen.
The dollar fell against major peers. Against the Swiss franc, the dollar weakened 3.89 percent to 0.825. The euro was up 2.23 percent. Against the Japanese yen, the dollar weakened 2.07 percent to 144.66.
The US Treasury Department saw good demand for a sale of 30-year bonds on Thursday after a strong 10-year note sale the day before, easing concerns that buyers would shut the debt.
Analysts attributed rapid yield increases this week to large liquidations as hedge funds and other asset managers unwound trades and sold assets due to margin calls and losses.
Concerns had also increased that a large holder of Treasuries, such as China, may be unloading some of its portfolio as a trade war between the world’s top two economies intensifies.
The 10-year note yield was last down 1 basis point on the day at 4.386 percent, while the interest-rate sensitive two-year yield fell 11 basis points to 3.843 percent. Yields move opposite to prices.
Oil prices fell, erasing the previous session’s rally, with US crude declining US$2.28 to settle at US$60.07 a barrel and Brent crude easing US$2.15 to end at US$63.33.
Spot gold was up 2.6 percent at US$3,160.82 an ounce, after hitting a record high of US$3,171.49 earlier in the session.
