Monday rallied sharply to a 1-month high and finished up by +1.48%. The dollar surged Monday after the US and China agreed to temporarily lower tariffs on each other's products. Also, Monday's jump in the 10-year T-note yield to a 4-week high strengthened the dollar's interest rate differentials.

Safe-haven gold fell more than 2% on Monday as risk sentiment crept in following the announcement of a temporary deal between the United States and China to reduce tariffs.

The dollar jumped and government bonds sold off as markets reacted to a de-escalation in the trade war between China and the US, which agreed to temporarily lower some tariffs for 90 days.