Dollar Index Slips as US Treasury Doubles Long-Dated Debt Buybacks
The US Dollar Index came under renewed selling pressure on Wednesday after the Treasury Department expanded its buyback program for long-dated debt, sending longer-term Treasury yields sharply lower.
DXY
The US Dollar Index (DXY) faced fresh selling pressure on Wednesday as longer-term US Treasury yields dropped sharply. The move followed a Treasury Department decision to expand its buyback operations for long-dated debt.
According to the report, the Treasury doubled the size of its long-dated debt buybacks. Falling yields on longer maturities reduced the dollar's yield appeal, weighing on DXY.
The dollar's weakness reflects the shift in rate differentials as US long-end yields retreat.
Source: FXStreet Forex News