Dollar Index Drops to Two-and-a-Half Week Low Ahead of Treasury Buyback

The dollar index DXY fell to its lowest level in two and a half weeks, dropping by 0.15%.

This decline comes ahead of the US Treasury's buyback operation for long-term US Treasuries on Thursday, which is seen as a bearish factor for the dollar.

Additionally, the yen has been gaining strength today, with US Treasury Secretary Bessent challenging traders to test his resolve in supporting the currency.

He stated, 'I am the house now, so when we intervene with the Japanese yen, I have pretty good insight into what the Japanese, what the BOJ is going to do, what Japanese policymakers are going to do.'