Dollar Slips to 98.72 Near 3-Month Low as Treasury Buyback Doubts Grow
Updated
Updated · Yahoo Finance · Aug 21
Dollar Slips to 98.72 Near 3-Month Low as Treasury Buyback Doubts Grow
3 articles · Updated · Yahoo Finance · Aug 21
Summary
The dollar index fell to 98.72 and headed for a 0.94% weekly loss, leaving the U.S. currency near a three-month low.
Treasury buyback plans drove the slide after Scott Bessent signaled bigger repurchases, stoking fears efforts to cap long-term yields could erode confidence in the dollar.
The euro rose 0.13% to $1.1694 for a fourth straight weekly gain, while sterling added 0.15% to $1.3652 and stayed near its highest since May.
The yen strengthened 0.14% to 158.81 after Japan's core inflation accelerated in July, reinforcing expectations the BOJ could raise rates at its Sept. 17-18 meeting.
Those currency moves add to pressure from the Iran war and rate uncertainty, setting a tense backdrop for next week's Jackson Hole speech by Fed Chair Kevin Warsh.