Dollar Falls as US Treasury Doubles Bond Buybacks

The US dollar fell against major currencies on Wednesday after the Treasury Department announced it plans to double liquidity support buyback operations for longer-dated bonds.

The euro rose 0.78% against the dollar to $1.16640, its highest level in over two and a half months. Sterling was 0.48% higher against the dollar at $1.3597, reaching its highest since May 11.

According to Juan Perez, director of trading at Monex USA, 'It makes sense for the dollar to depreciate since this is on top of other themes that have been negative for the dollar including a Federal Reserve that is not going to be communicative and no progress on the Middle East tensions.'