Summary: The US dollar surged and Treasuries fell following a joint statement from the US and China indicating a temporary reduction in tariffs. The agreement, which lowers tariffs for 90 days, eased trade tensions and stoked appetite for risk assets. This positive development led to a decline in traditional haven assets like the Japanese yen and Swiss franc, while stocks rallied on both sides of the Atlantic.

Link: https://www.theedgesingapore.com/news/us-economy/dollar-surges-treasuries-fall-us-china-trade-tensions-ease