Dollar Sinks as Debt Fears Trump Economic Growth

The US dollar is trading near multi-month lows due to rising concerns about debt and inflation. The currency has been declining as investors become increasingly nervous about the US Treasury's efforts to hold down long-term bond yields.

Last week, the US Treasury announced it would double its buybacks at the long end to $4 billion per operation, which has spooked traders and hit the dollar.

The Canadian dollar slipped 0.2% in early trade after trade talks with the US collapsed and Washington imposed 50% tariffs on Canadian goods, with Canada retaliating in kind.

Meanwhile, the Australian and New Zealand dollars are trading near three-month highs at $0.7171 and $0.5979 respectively.