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.
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- Dollar wobbles as investors balk at US Treasury’s rescue efforts businesstimes.com.sg
- 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
