By Chibuike Oguh
NEW YORK, Aug 19 (Reuters) - The dollar weakened against major currencies on Wednesday after the U.S. Treasury Department announced it plans to double liquidity support buyback operations for longer-dated bonds.
The euro rose 0.78% against the dollar to $1.16640, hitting its highest level in more than 2-1/2 months.
Sterling was 0.48% higher against the dollar at $1.3597, rising to its highest since May 11.
The announcement suggests an expansionary monetary policy and the availability of more dollars in the market, which is causing the U.S. currency to depreciate, said Juan Perez, director of trading at Monex USA.
#dollar #highest #chibuike
NEW YORK, Aug 19 (Reuters) - The dollar weakened against major currencies on Wednesday after the U.S. Treasury Department announced it plans to double liquidity support buyback operations for longer-dated bonds.
The euro rose 0.78% against the dollar to $1.16640, hitting its highest level in more than 2-1/2 months.
Sterling was 0.48% higher against the dollar at $1.3597, rising to its highest since May 11.
The announcement suggests an expansionary monetary policy and the availability of more dollars in the market, which is causing the U.S. currency to depreciate, said Juan Perez, director of trading at Monex USA.
#dollar #highest #chibuike
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