UK Economy Shows Strength as Burnham Gets Early Boost 
Asian Stocks Slide as Samsung, Alibaba Lead Tech Selloff 
Asian Currencies Rise as Dollar Weakens, Treasury Yields Climb 
ECB Rate Hike Bets Rise as Inflation Risks Persist 
Wall Street Ends Higher as Crypto Stocks and Materials Rally 
US Debt Tops $40 Trillion as Global Borrowing Costs Surge 
Gold Prices Hit Three-Month High as Dollar Weakens 
South Korea Producer Prices Fall 0.4% in July 
Norway Backs Barents Sea Oil and Gas Expansion 
Asian Currencies Steady as Dollar Hovers Near Multi-Month Lows 
Oil Prices Ease as US-Iran Tensions Keep Brent on Track for Weekly Gain 
China EV Stocks Slide as Door Handle Recall Hits 4.3 Million Vehicles 
US Plans ‘Toughest Sanctions in History’ on Iran, Bessent Says 
China opens new Arctic trade route – but obstacles will prevent its wider use 
Indian Sugar Stocks Surge on Tight Supply, Festive Demand 
Japan Inflation Rises, Boosting BOJ Rate Hike Bets 
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The U.S. dollar hovered near multi-month lows on Monday as investors assessed the Treasury Department’s plan to increase purchases of long-dated bonds while awaiting new Iran sanctions and key central bank speeches.
The Canadian dollar weakened 0.2% to C$1.3798 per U.S. dollar after U.S.-Canada trade negotiations collapsed. Washington imposed 50% tariffs on Canadian goods, prompting Canada to retaliate with similar measures.
Elsewhere, the Australian dollar traded at $0.7166 and the New Zealand dollar at $0.5972, both close to three-month highs. The euro remained above $1.16 at $1.1680, while the Japanese yen stayed stronger than 159 per dollar. Sterling held firm at $1.3650, and the Chinese yuan hovered near a three-and-a-half-year high at 6.7232 per dollar.
Strong U.S. services data released Friday provided limited support for the greenback. The dollar still recorded its biggest weekly decline against Bitcoin in nearly three-and-a-half years and has also weakened sharply against gold.
Pressure intensified after 30-year Treasury yields approached two-decade highs. The U.S. Treasury responded by doubling long-end bond buybacks to $4 billion per operation. Although modest compared with the roughly $32 trillion Treasury market, the move raised concerns that policymakers could increasingly intervene to contain long-term yields.
Attention now turns to U.S. Treasury Secretary Scott Bessent, who is scheduled to detail new sanctions against Iran on Monday. Investors are particularly watching whether the measures will target China or other major Iranian trading partners.
Federal Reserve Chair Kevin Warsh’s Jackson Hole speech on Friday will also be closely monitored for clues about U.S. interest rates, Treasury yields and the Fed’s balance sheet.
In Japan, Bank of Japan Deputy Governor Ryozo Himino is scheduled to speak Thursday. Markets will watch for indications that the BOJ is moving closer to another interest rate hike, although U.S. bond-market developments are expected to remain the dominant driver of the USD/JPY exchange rate.
