Dollar wobbles as investors balk at US Treasury’s rescue efforts
Investors view the US Treasury's bond buyback plan as a temporary fix, with concerns rising over interventions and a deteriorating fiscal outlook.
The dollar faces headwinds as investors question the efficacy of the US Treasury's bond buyback program. The US Treasury Secretary Scott Bessent hinted at further increasing repurchases of Treasuries, while the White House budget director Russell Vought announced a fiscal consolidation effort under President Donald Trump. The government's unconventional measures aimed at stabilizing borrowing costs have failed to halt the downward trend in US Treasuries, heightening concerns about fiscal uncertainties and the credibility of US institutions.
The euro and British pound rose near three-month highs, while the Australian dollar and New Zealand dollar showed gains. Meanwhile, the yen continued to struggle against the dollar amid widening US-Japan interest rate differentials. Bitcoin and gold also benefited from the growing demand for diversification away from US assets.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Dollar wobbles as investors balk at US Treasury's rescue efforts brecorder.com
- Dollar wobbles as investors balk at US Treasury's rescue efforts nst.com.my
- US Dollar: Treasury twist signals structural risks – Commerzbank fxstreet.com
- Dollar wobbles as investors balk at US Treasury’s rescue efforts freemalaysiatoday.com
- Gold prices steady as dollar weakens, US Treasury acts to curb yields english.ajel.sa
- Dollar wobbles as Treasury's bond market buybacks raise fresh concerns businesstimes.com.sg
- Asia FX set for weekly gains, dollar near 3-mth lows despite U.S. Treasury move investing.com
- Dollar near three-month low on Treasury buyback worries finance.yahoo.com
