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Dollar hits three-month low amid bond unrest
The US dollar declined to its lowest levels in three months against the euro and the British pound, amid concerns that the U.S. Treasury's plan to expand long-term debt buyback operations could further pressure the dollar. This decline coincided with a rise in long-term Treasury yields, which reached their highest levels since 2007, reflecting fears of worsening financial conditions and increased geopolitical risks, especially with ongoing concerns about Federal Reserve policies. Meanwhile, gold and cryptocurrencies experienced strong gains, with Bitcoin surpassing $77,000, as investors grew worried about the dollar's erosion and increased expectations of interest rate hikes in September and December.
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