{
  "id": 3066637,
  "title": "The Dollar Index takes its orders from the Treasury",
  "url": "https://urgent.news/2026/08/24/the-dollar-index-takes-its-orders-from-the-treasury",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T16:47:19.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/the-dollar-index-takes-its-orders-from-the-treasury-202608241647"
  },
  "original_language": "en",
  "account": "The Dollar Index, a measure of the US dollar's strength against other major currencies, has been trading near 99.00, up 0.15% and 2.8% below its June peak. It trades beneath a 200-day Exponential Moving Average (EMA) of 99.50 and a 50-day moving average on the 100.00 handle. The Fed's move to double the ceiling on its long-end bond buybacks, announced in mid-August, has caused the index to lose its 200-day EMA, a key support level, and it has not traded back above this line since. The Treasury General Account (TGA), which can fund these bond purchases, holds nearly 950 billion dollars, a significant increase from the 550 to 600 billion dollar working level of the previous administration. The Treasury's actions have a significant impact on Dollar liquidity, as each dollar leaving the TGA enters the banking system as reserves. This fiscal easing operation reduces the average maturity of the borrowing and reprices a greater share of debt at the policy rate, leading to falling US yields and a firmer Dollar, which contradicts the typical rate-differential model.",
  "summary": "A currency whose central bank has held five times, prices no cut this year and still carries an increase by December should not be sitting at the bottom of its three-month range.",
  "key_points": [
    "Dollar Index near 99.00, up 0.15%",
    "Fed's bond buybacks cause Dollar to lose 200-day EMA support",
    "Treasury General Account holds nearly 950 billion dollars"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}