Euro Holds Steady Near 1.17 Amid US Treasury Buybacks and Geopolitical Tensions

The euro maintained its strength against the US dollar during Asian trading hours on Monday, August 24, holding steady near the 1.1680 level for the fourth consecutive session.

The US Treasury's expansion of its long-term debt buyback program has put pressure on the dollar, with Treasury Secretary Bessent hinting that the scale of repurchases could exceed $4 billion per tranche.

However, geopolitical tensions between the US and Iran have provided safe-haven buying support for the dollar, limiting further upside potential for the euro.