US Dollar Falls to Three-Month Low Amid Bond Yield Concerns

The US dollar fell to a three-month low against the euro on Friday, August 21, amid concerns that expanding purchases of long-term U.S. government bonds could increase pressure on the American currency.

In response to rising bond yields, the Treasury announced plans to at least double its purchases of long-term debt, attempting to contain the rise in bond yields.

U.S. Treasury Secretary Scott Bessent said that the government could increase the volume of Treasury bond purchases.