Dollar Wobbles as Treasury's Bond Market Buybacks Raise Fresh Concerns

The U.S. dollar continued its downward trend on Friday, marking the end of a bumpy week as investors questioned the Treasury's efforts to calm the bond markets.

The move has raised concerns that these actions might undermine confidence in the currency.

The euro and British pound both gained ground against the dollar, with the euro up 0.21% to $1.1703 and the pound up 0.15% to $1.3652.

U.S. Treasury Secretary Scott Bessent stated that he may increase government repurchases of Treasuries further, a move that has sparked debate among investors.

Critics argue that efforts to keep a lid on longer-term yields may only shift pressure elsewhere in U.S. markets, with the currency potentially bearing the brunt.