Bullish
EUR/USD reaches three-month high as U.S. Treasury's bond buybacks weaken dollar
The EUR/USD pair surged to a three-month high following the U.S. Treasury's announcement of increased buybacks of long-dated government bonds. This move aimed to stabilize the bond market but led to a temporary depreciation of the U.S. dollar. The euro peaked at $1.1710, the highest level since May 14, before slightly retreating.
Key points
- U.S. Treasury's bond buybacks push EUR/USD to three-month high.
- Dollar index stabilizes after initial decline, closing at 98.82.
- Euro retreats from peak, trading at $1.1686 after reaching $1.1710.
Sources
AI-generated from public news sources. Not financial advice.
