The US dollar fell to a three-month low against a basket of currencies. ING strategist Chris Turner stated in a report that the US Treasury's decision to increase the scale of long-term bond buybacks has boosted market risk sentiment. He noted that this move shows Treasury Secretary Janet Yellen's willingness to step in to curb the rise in long-term borrowing costs. This has reduced one of the main threats facing risk assets this summer, undermined the dollar’s status as a safe-haven asset, and

The US dollar fell to a three-month low against a basket of currencies. Chris Turner, strategist at ING, stated in a report that the US Treasury's decision to increase the scale of long-term Treasury buybacks has boosted market risk appetite. He noted that this move signals US Treasury Secretary Janet Yellen’s willingness to step in to curb rising long-term borrowing costs. This reduces one of the main threats facing risk assets this summer, weakens the US dollar's status as a safe-haven asset, and supports emerging market currencies. The US Dollar Index (DXY) once dropped to 98.708. Turner said that if risk assets continue to rise driven by more aggressive interventions from the US Treasury, the index could further fall to 98.65.