Dollar Hits Three-Month Lows Amid Treasury's Bond Market Relief Measures

The US dollar has been experiencing significant losses, hovering near three-month lows as investors react to measures announced by the US Treasury Department. The department's efforts aim to calm the bond market, which had seen long-end yields reach their highest level since 2007.

The dollar index, a benchmark measuring the US currency against six other units, has fallen to 98.938, its lowest level since mid-May. Meanwhile, the euro has risen to $1.1676, its highest value since late May.