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Singapore, August 20 (QNA) – The US dollar stood at three-month lows on Thursday after the Treasury Department moved to calm a bond market rout that had pushed long-end yields to their highest since 2007.
The dollar index, which measures the US currency against six other units, was at 98.938, around its lowest level since mid-May.
The euro was at $1.1676, perched at the highest level since late May. The dollar weakness provided some relief to the Japanese yen as the fragile currency pulled away from the closely watched 160 level, at 158.32 per dollar. Sterling was at $1.3603, while the Swiss franc last bought 0.7981 per US dollar, near its two-month high.
The 30-year Treasury yield rose to a 19-year high of 5.337% earlier this week, prompting the US Treasury to unveil plans on Wednesday to double liquidity support buyback operations for longer-dated bonds.
The 30-year yield was last at 5.184% after dropping 9 basis points following Wednesday’s decision. (QNA)
