Dollar drops to three-month low

The US dollar declined significantly, recording its lowest level in over three months, amid a drop in US Treasury bond yields. This came after the Federal Reserve meeting minutes showed that officials have become more concerned about ongoing inflation and are prepared to raise interest rates if inflation does not return to the 2% target. Additionally, the announcement by the US Treasury to increase long-term bond buybacks supported the move, leading 30-year bond yields to drop to their lowest level since 2007, with expectations of further pressure on the US bond market.

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