Dollar Rebound Fails to Materialize as Treasury Buyback Hike Looms

The U.S. Dollar Index is attempting to rebound after a strong sell-off triggered by the Treasury's decision to boost buybacks of long-dated bonds.

According to U.S. Treasury Secretary Scott Bessent, Treasury could increase buybacks to more than $4 billion per issue, which has traders focused on this development.

The Initial Jobless Claims report also caught attention, showing that 206,000 Americans filed for unemployment benefits in a week, below the analyst forecast of 210,000.

The U.S. Dollar Index failed to settle below its support level at 98.60-98.75 and is moving towards the 99.00 level.