Dollar wobbles as investors balk at US Treasury’s rescue efforts
The euro last fetched US$1.1685 against a weak dollar
The U.S. dollar dipped on Friday as investors grew wary of the Treasury's bond buyback efforts, viewing them as a short-term fix for rising yields. Treasury Secretary Scott Bessent hinted at further increases in government repurchases of Treasuries and a new fiscal consolidation effort under President Trump. However, these moves failed to halt the sell-off in U.S. Treasuries and dampened the dollar's value.
The euro rose near a three-month high against the weaker dollar, while the British pound flirted with a six-month peak. The Japanese yen, pressured by wide U.S.-Japan rate differentials, slipped slightly. Concerns over the rising U.S. debt pile, now exceeding $40 trillion, prompted some investors to seek alternatives like gold and bitcoin, which have benefited from attempts to diversify away from U.S. assets.
Bitcoin and spot gold both staged significant gains on Friday, signaling a potential shift in investor sentiment.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- Dollar wobbles as investors balk at US Treasury's rescue efforts brecorder.com
- Dollar wobbles as investors balk at US Treasury’s rescue efforts freemalaysiatoday.com
- Dollar wobbles as investors balk at US Treasury's rescue efforts nst.com.my
