Dollar falls for second month amid bond buyback

The dollar continued its decline for the second consecutive month in August, with the Bloomberg U.S. Dollar Index dropping by 0.9% due to increased Treasury bond repurchase operations and expectations of Washington's expansion in debt purchases. This led investors to reduce their bets on a rising currency and diminished the attractiveness of American assets. Despite these pressures, the Federal Reserve Chief reiterated their commitment to curb inflation, boosting the likelihood of a more-than-50% chance of interest rate hikes in September, amid anticipation of the upcoming U.S. jobs report.

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