US Dollar sinks below 99 as Treasury buyback weighs

The US Dollar Index (DXY) sold off broadly on Wednesday, sliding below the 99.00s region and holding well under that level as selling pressure continued. The greenback’s weakness left the index struggling to regain upside traction, keeping it below the key threshold into the next session.

Market participants linked the move to a Treasury buyback, which appeared to weigh on the dollar. Traders were also positioning ahead of a data-heavy Thursday, when a busy calendar of economic reports could set the near-term tone for the greenback.

• DXY fell below the 99.00 area
• Treasury buyback cited as a driver
• Attention shifts to Thursday’s data