Hedge buying drives up the US dollar

The sharp decline in UK inflation rate hits the pound

On Wednesday, the US dollar index remained strong above the 102 level, rising to an intraday high of 102.54 and ultimately closing 0.3% higher at 102.44. The yield on US Treasury bonds has declined, with the 10-year yield falling below the 3.9% mark and ultimately closing at 3.853%; The two-year US Treasury yield, which is more sensitive to the Federal Reserve's policy interest rates, closed at 4.340%.

Spot gold failed to stabilize above the $2,040 level and briefly fell below the $2,030 level during the US market, ultimately closing down 0.44% at $2,031.24 per ounce; Spot silver showed a roller coaster trend, with a significant increase during the US market, followed by a retracement of most of the gains, ultimately closing 0.4% higher at $24.15 per ounce

The US dollar rose against a basket of currencies on Wednesday as the late day sell-off in US stocks boosted the safe haven appeal of the US dollar, while data on a significant drop in UK inflation also led to a sharp drop in the pound.