U.S. ambassador to NATO said the alliance is ready for a successful summit, but some allies remain slow, are underspending or lack credible plans. President Trump expects all allies to act immediately to move toward a 5% defense spending target.

ING strategist Chris Turner said if Fed Chair KEVIN WARSH focuses on price stability in remarks at the ECB forum in Sintra, the dollar should remain firm. Warsh, at his first meeting as Fed chair in June, stressed the need to return inflation to the 2% target; since then core PCE has risen 3.4% and the jobs report was strong. Turner said a reversal in rate‑hike expectations would be "surprising", while Warsh's remarks represent upside risk for the dollar. ING expects the dollar index (DXY) could rebound to the 101.700–101.800 range on the speech.

After the Supreme Court blocked President Trump’s attempt to remove Fed governor Cook, Fed Chair Kevin Warsh said the Fed has operated independently and will continue to do so and will abide by the court’s decision. He said he trusts Article III judges and the rule of law, that the ruling reaffirms the Fed’s commitment to impartial execution of its duties, and that the Fed will pursue reform goals and deliver Congress’s mandate to achieve price stability under the dual mandate — adding that if it achieves price stability, there is no need to fear political or judicial interference and the central bank can remain focused on its tasks.