Trump denies media reports about firing Powell, U.S. Treasury yields and gold prices retreat, and the dollar's decline narrows

Wallstreetcn
2025.07.16 16:10

The yield on the U.S. two-year Treasury note rose about 3 basis points in the short term, approaching 3.92%, with the overall intraday decline narrowing to less than 3 basis points.

Spot gold briefly plummeted from around $3,360 to below $3,340, with the overall intraday increase narrowing to nearly 0.5%.

The ICE U.S. Dollar Index's decline narrowed to 0.28%, currently reported at 98.35, after previously dipping to 97.71.

The Bloomberg Dollar Index briefly rose from around 1,202 to close to 1,206, with the overall intraday decline quickly narrowing to about 0.15%.

The S&P 500 Index maintained a decline of 0.1%, the Dow Jones Industrial Average turned positive, and the Nasdaq fell by 0.2%.

U.S. President Trump responded that he does not plan to dismiss Federal Reserve Chairman Powell at this time

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