Safe-haven demand lifted the USD as US recession fears hit stocks.

On Monday, after Trump's comments about the economic recession ignited risk aversion, the US dollar index rebounded and briefly returned to the 104 level, but the stronger safe haven appeal of the Japanese yen limited its gains, ultimately closing up 0.042% at 103.93. The collective decline in US bond yields, with the benchmark 10-year US bond yield closing at 4.216%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.894%. Gold prices fell on Monday as profit taking offset the safe haven demand support brought about by geopolitical uncertainty, while US inflation data also became a focus of market attention. Worries that US tariff policies would slow down the global economy and reduce energy demand led to a return to a six-month low for both oil and gas. WTI crude oil fell 1.72% to $65.71 per barrel in the US market, following the plunge of risky assets; Brent crude oil ultimately closed down 1.72% at $68.98 per barrel.