Forex Today: USD weakness extends, trade tensions mount, Silver surges

– US dollar extended overnight losses vs. main competitors in Asia as Treasury yields slid further on trade woes, earnings results and aggressive Fed rate cut bets.

– Aussie outperformed on upbeat Australian headline jobs data, USD/JPY slipped in tandem with Asian equities amid risk-aversion. Kiwi continued to trade firmer so far this week.

– US-China trade stand-off weighed alongside escalating South Korea-Japan trade dispute.

– UK: The Cable consolidated the recovery below 1.2450 amid Hard Brexit fears, ahead of key UK Retail Sales, House of Commons vote on an amendment that limits PM from dissolving the Parliament until October 31.

– Oil prices steadied after the drop on US crude stocks surge, Gold clung to overnight gains near 1425 levels, Silver rallied to five-month highs above 16.10.

– Cryptocurrencies stalled recent recovery. Bitcoin stayed below 10k.

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