Dollar falls for second month
The dollar continued its decline for the second consecutive month in August, influenced by increased reverse repurchase agreements on U.S. Treasury bonds announced by the Treasury Department, as well as Treasury Secretary Scott Bisset's statements about expanding bond purchases. This weakened the dollar's attractiveness to foreign investors. The dollar index recorded its longest losing streak since February, despite heightened expectations of interest rate hikes by the Federal Reserve following remarks by Federal Reserve Chairman Kevin Warch, which boosted the probability of a rate increase in September to over 50%. Markets are awaiting the upcoming U.S. employment report on Friday to gain clearer signals about the future of growth and interest rates.
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