Dollar drops to three-month low on buyback concerns
The dollar fell to a three-month low against the euro as concerns grew over plans to expand Treasury buybacks. Analysts warn the strategy may weigh further on the U.S. currency while failing to suppress long-term yields.
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The United States dollar fell to a three-month low against the euro on Friday as debt expansion plans weighed on the currency. The EUR/USD rate approached key resistance levels after climbing 0.03% to $1.1682. The drop reflects mounting investor anxiety over fiscal deficits and aggressive bond buyback programs.
