Fed concerns hit dollar; gold nears $3450.

On Monday, due to Trump's bombardment of Powell damaging investors' confidence in US assets, the US dollar index plummeted to its lowest level since March 2022, ultimately closing down 0.885% at 98.36. The yield curve of US Treasury bonds sharply steepens, with the benchmark 10-year US Treasury yield closing at 4.414%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.775%.

On Tuesday (April 22, Beijing time), spot gold continued to rise, hitting a historic high of 3441.53. The uncertainty of the impact of the weakening US dollar and trade tensions on the economy stimulated safe haven demand, and Trump's attack on Powell may threaten the independence of the Federal Reserve.

International crude oil has returned to a downward trend, with US and Brent crude oil falling more than 3% at one point in the day, as there are signs of progress in negotiations between the US and Iran, while investors remain concerned that economic headwinds from tariffs may suppress fuel demand. WTI crude oil ultimately closed down 1.62% at $62.67 per barrel; Brent crude oil closed down 1.81% at $65.74 per barrel.