Terminal uses dconf org.gnome.desktop.interface.monospace-font-name font rather than xsettings one. Related topic: https://forum.xfce.org/viewtopic.php?id=12277
Igor referenced this bugreport in commit 4119272d6e64de6b95a89f03c7176ac6cc6869ec Respect Xfce monospace font setting https://git.xfce.org/apps/xfce4-terminal/commit?id=4119272d6e64de6b95a89f03c7176ac6cc6869ec
Added support for xsettings, thanks!