Dollar Weakens on Foreign Dollar Asset Pullback; EURUSD, Gold, Silver Surge — USDJPY Pressured

The U.S. dollar fell to a 1-week low of 100.22 on February 9, 2026, down -0.75% on the DXY00, as Chinese regulators advised banks to scale back holdings of U.S. Treasuries, raising concerns about reduced foreign demand for dollar assets. EUR/USD rose to 1.0755, up +0.78%, and USD/JPY traded at 139.45, down -0.87%, as the yen recovered from a 2-week low amid PM Takaichi’s election gains and mixed economic data. Swaps price a 19% chance of a -25 bp ECB rate cut at its March 19 meeting and a 3% chance of a similar move by the ECB. Gold (GCJ26) advanced $72.20 to $2,400.00 (+1.45%) and silver (SIH26) climbed $4.210 to $44.30 (+5.46%) on the dollar weakness and perceived safe-haven demand. The PBOC added 40,000 oz to reserves to 74.19 million oz in January. Precious metals also benefit from a 50-bp FOMC rate cut expected in 2026 and BOJ policy divergence, while the yen faces a +29% chance of a BOJ hike at its March 19 meeting.