Dollar trading near multi-month lows, restrained by debt nerves
Traders said the move reflects bond-market nerves after the Treasury doubled long-end buybacks to $4 billion per operation, a small step in a $32 trillion market.
- On Monday, the dollar teetered near multi-month lows as markets reacted to U.S. Treasury bond buyback promises and awaited details on threatened sanctions against Iran.
- Last week, after 30-year yields hit two-decade highs, the Treasury doubled long-end bond buybacks to $4 billion per operation, unsettling traders in the $32 trillion market.
- Global currencies shifted in early trade, with the euro above $1.16, the yen near 159 per dollar, and Australian and New Zealand dollars trading near three-month highs at $0.7171 and $0.5979.
- U.S. Treasury Secretary Scott Bessent will hold a press conference at 1800 GMT today to announce sanctions on Iran, with markets watching whether he will target China with "the toughest sanctions in history."
- Traders are monitoring policy speeches from Warsh and Bank of Japan official Himino this week, with BNY strategist Geoff Yu noting that balance sheet commentary could move the long end significantly.
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Dollar Holds Near Multi-Month Lows as Bond Market Concerns and Iran Sanctions Weigh on Investors
The U.S. dollar remained near multi-month lows on Monday as investors weighed concerns about the U.S. Treasury's expanded bond-buyback plans, awaited details of new sanctions ... The post Dollar Holds Near Multi-Month Lows as Bond Market Concerns and Iran Sanctions Weigh on Investors first appeared on [your]NEWS.
US dollar hovers near multi-month lows as debt nerves unnerve investors
The US dollar hovered near multi-month lows on Monday (Aug 24) in a market unsettled by the US Treasury’s promise to buy back more long-dated bonds, while traders awaited details of sanctions... Read more at The Business Times.
The dollar fell on Monday, nearing its lowest levels in several months. The Canadian dollar dropped 0.2% to 1.3798 per US dollar, while the Australian and New Zealand dollars held near their three-month highs at $0.7171 and $0.5979, respectively. The euro climbed above $1.16 to $1.1685, while the yen remained strong at 159 per dollar. The dollar posted its biggest weekly decline against Bitcoin in nearly three and a half years on Sunday and also…
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