East West Pipeline

The U.S. dollar strengthened as traders reacted to higher oil prices, rising Treasury yields and elevated expectations for a Federal Reserve rate increase. EUR/USD and GBP/USD slipped, USD/CAD pushed toward key resistance, and USD/JPY gained as bond-market volatility stayed in focus.

Gold opened the week sharply lower, trading near $4,331 after losing about $77, as a reported diplomatic meeting that supported Friday’s risk bounce failed to materialize. WTI crude moved back above $102 as Saudi Arabia’s East-West pipeline shutdown revived concerns over a major export bypass route.