US Treasury Sec. Bessent: Decrease in rates would unlock mortgage market

United States (US) Treasury Secretary Scott Bessent told CNBC on Monday that a decrease in interest rates would unlock the mortgage market, per Reuters.

Bessent added that they need to examine the entire Federal Reserve institution but refrained from commenting on a report that claimed he had advised US President Donald Trump not to fire Chairman Jerome Powell.

Regarding trade negotiations, Bessent noted that the European Union had become more engaged and said that they are going to continue talks with China in the near future.

Market reaction

The US Dollar Index extends its daily decline on Monday and was last seen losing 0.42% on the day at 98.05.

Jul 21, 2025

Silver Price Forecast: XAG/USD steadies near $38.50, eyes breakout above $39.00

Silver (XAG/USD) starts the week on firmer ground after a mild pullback last week. As of now, the metal is trading near $38.50 during the early American trading hours on Monday, just shy of the multi-year high of $39.13 set on July 14.

NZD/USD steadies as soft CPI data fuels RBNZ cut bets, USD weakens on trade risk

The New Zealand Dollar (NZD) is battling the US Dollar (USD) on Monday as traders weigh EU–US trade tensions against mixed domestic inflation data from New Zealand that could prompt RBNZ rate cuts.