Dollar Hits Multi-Month Lows Amid Treasury Buyback Plan

The US dollar is trading near multi-month lows due to the US Treasury's pledge to expand long-bond buybacks, which has unsettled traders.

Friday's data showing strong US services growth helped hold off dollar sellers in early trade, but the currency has been sliding against gold and Bitcoin.

The Canadian dollar slipped 0.2% after trade talks with the US collapsed and Washington imposed 50% tariffs on Canadian goods.

The Australian and New Zealand dollars are trading near three-month highs, while the euro is holding above $1.16 per dollar.

US Treasury Secretary Scott Bessent is due to hold a press conference later Monday after threatening 'the toughest sanctions in history' on Iran.