Dollar Sinks Amid Treasury Buyback Plan

The US Dollar Index (DXY) fell sharply on Wednesday, dropping below the 99.00s region and holding under 100.00.

This decline followed a plan by the United States Treasury to at least double its liquidity support buyback operations for longer-dated coupon securities, effective September 9.

The July Federal Open Market Committee (FOMC) Minutes had little impact on the Dollar's slide, as policymakers still regard inflation as elevated and three officials voted for a rate hike.