AUD Weakens as US Yields Rebound, Despite Treasury's Efforts

The Australian Dollar (AUD) weakened against the US Dollar (USD) on Thursday as US Treasury yields rebounded, despite efforts to cap elevated yields following a long-end bond buyback program announcement. The AUD/USD traded at 0.7114, down 0.14%. This retreat comes after the US Treasury's program was announced, causing the 30-year yield to fall and reach a low of 5.178% earlier in the day.

The US Dollar Index (DXY), which tracks the Greenback's value against six peers, rose 0.07% to 99.83. The AUD/USD had soared to a weekly high of 0.7132 before retreating.

Ahead, the US economic docket will feature Flash PMIs, expected to slow, with the Manufacturing PMI projected at 53.8 and the Services PMI forecast at 54.0.