Dollar fell, while stocks rose after investors examined the latest Fed minutes, which showed that most officials support slowing the pace of interest rate hikes in the near future.

The S&P 500 saw gains, as did 10-year bond yields, which hit 3.70%. But trading volumes are expected to become lower given today's holiday in the US.

The latest Fed minutes assessed whether the central bank succeeded in curbing inflation. Several officials supported the need to slow the rate hike, and few even stressed the need for a final rate hike.

After the meeting, investors analyzed a lot of economic data, which somewhat eased concerns about inflation.

And given that dollar weakened after the minutes, gold and EUR/USD rose sharply.

The correction in dollar, oil and Treasury yields seems to suggest that markets believe peak inflation to be over.