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Forex Today: US Dollar struggles after Treasury boosts long-term bond purchases
Here is what you need to know on Thursday, August 20:
Australian Dollar: Upside risk hinges on 0.7150 against US Dollar â UOB
United Overseas Bankâs Quek Ser Leang and Lee Sue Ann note AUD/USD retested recent highs near 0.7130 but momentum has not strengthened markedly.
98.75 support tested; US Dollar Index under pressure amid US debt buyback plan
The US Dollar (USD) took a beating on Wednesday after US Treasury Secretary Scott Bessent announced a plan to buy back long-term government debt to ease Bond yields.
Japanese Yen underperforms amid rising trade concerns
The Japanese Yen (JPY) is down against its major currency peers on Thursday, with USD/JPY trading 0.22% higher at around 158.50 during the European trading session. The Japanese currency underperforms as the Trade Deficit widens due to elevated energy prices.
US Dollar: Risk-on pattern with softer DXY â ING
INGâs Chris Turner notes that US Treasury buy-back operations and a drop in longer-dated yields have supported equities and weighed on the Dollar.
Australian Dollar holds early losses driven by weak job data
The Australian Dollar (AUD) remains under pressure against its major currency peers during the early European trading session on Thursday. As of writing, the antipodean is down 0.17% to near 0.7110 against the US Dollar (USD).
Canadian Dollar gains traction on fading Fed rate hike bets, US-Canada tariff pause
The USD/CAD pair declines to around 1.3790 during the early European trading hours on Thursday. The US Dollar (USD) weakens against the Canadian Dollar (CAD) as cooling US inflation dampens aggressive US Federal Reserve (Fed) policy expectations.
Swedish Krona: Hawkish Riksbank stance holds â Commerzbank
Commerzbankâs Antje Praefcke expects the Swedenâs central bank, the Riksbank, to leave its policy rate at 1.75% and maintain a hawkish tone similar to Juneâs statement.
Silver Price Forecasts: XAG/USD stands tall near $67 supported by US Treasuryâs buybacks
Silver (XAG/USD) is practically flat on Thursday, holding most of Wednesdayâs gains, trading just above $67.00 at the European session opening.
Indian Rupee: Elevated Oil keeps INR lagging against US Dollar â OCBC
OCBC strategists Sim Moh Siong and Christopher Wong note Indian Rupee (INR) remains under pressure despite broader US Dollar (USD) weakness, as high Oil prices and importer Dollar demand weigh on the currency.
Switzerland Industrial Production (YoY) up to 5.5% in 2Q from previous -7.1%
Switzerland Industrial Production (YoY) up to 5.5% in 2Q from previous -7.1%
Equities: Yield relief and healthcare gains lift markets â Deutsche Bank
Deutsche Bank strategists note that equities rebounded as a sharp decline in long-end US Treasury yields helped the S&P 500 end a three-day losing streak.
Iran's Araghchi says economic D-Day is a diversion from the US crisis
Iran's Foreign Minister Abbas Araghchi dismissed US President Donald Trumpâs threatened âeconomic D-Dayâ against Tehran as an attempt to divert attention from US debt and rising interest costs, Reuters reported on Thursday. Araghchi added that US policies will bring defeat and enmity.Â