Dollar Plummets as US Treasury Doubles Buyback Program

The US dollar index plummeted to 99 on Wednesday, its lowest level since late May, following an announcement from the US Treasury.

In a move aimed at capping long-term yields and supporting dollar liquidity in the global financial system, the department doubled its long-term buyback program.

The maximum Treasury security buyback amount was raised to $4 billion for the period ending November 4th.

This decision aligns with earlier efforts by Japan and the US to limit the surge in long-dated bonds globally.