The dollar index pulled back from 1.5-month highs as falling bond yields and a broader equity rally provided a tailwind for the euro, yen, and precious metals.
Silver rose +1.81% to a 1-week high, supported by lower bond yields and rising ETF holdings.
Gold closed up +0.28% as falling global bond yields and the BOE's no-rate-hike decision boosted precious metals demand.
EUR/USD recovered from a 1.5-month low and finished up +0.11% on dollar weakness and lower crude oil prices.
USD/JPY fell -0.17% as lower crude oil prices and T-note yields supported the yen, with markets expecting a BOJ rate hike.
The dollar index finished slightly lower by -0.03% as a sharp rally in stocks and lower T-note yields curbed demand.
The US dollar index retreated 0.03% on Thursday as a robust stock market rally and declining T-note yields dampened demand for the greenback. Meanwhile, precious metals surged, with silver hitting a one-week high, while the Japanese yen gained 0.17% ahead of an anticipated Bank of Japan rate hike.
The yen was supported by lower crude oil prices, declining T-note yields, and market expectations of a 25 basis point rate hike by the Bank of Japan.