Dollar Near Multi-Month Lows as Treasury Buyback Plan and Sanctions Loom

The dollar hovered near multi-month lows on Monday, with markets unsettled by the U.S. Treasury's move to boost purchases of longer-dated bonds and traders awaiting clarity on Iran sanctions and upcoming policy addresses in the U.S. and Japan.

Canada's currency dipped 0.2% in Asian trading to C$1.3798 per U.S. dollar after bilateral trade negotiations broke down and Washington introduced 50% tariffs on Canadian products, prompting Ottawa to respond with equivalent duties.

The Australian and New Zealand dollars were just shy of three-month peaks at $0.7166 and $0.5972, respectively. The euro held comfortably above $1.16 at $1.1680, while the yen stayed on the firmer side of 159 per dollar.

Data released Friday showing the fastest U.S. services expansion in nearly two years during August kept dollar sellers at bay but failed to spark a meaningful rebound. Over the weekend, the greenback recorded its steepest weekly decline against bitcoin in roughly three and a half years and continued its sharp slide versus gold amid renewed worries that the currency could weaken if Washington seeks to cap yields.

Long-dated bond yields have been rising worldwide, driven by a robust growth outlook, higher inflation expectations, and concerns over expanding government debt burdens. Last week, following 30-year yields touching levels not seen in almost two decades, the U.S. Treasury said it would double its long-end buyback operations to $4 billion per auction. While that amount is modest relative to the $32 trillion market, the interventionist stance rattled investors and weighed on the dollar.

Goldman Sachs analysts observed that by trying to prevent longer-duration securities from losing value, the dollar becomes the primary adjustment mechanism to attract foreign capital for financing the U.S. current account deficit.

Sterling remained steady at $1.3650 during morning deals, and the yuan, which posted an eighth consecutive weekly gain last week, traded near a 3-1/2-year high at 6.7232 per dollar.

Later on Monday, U.S. Treasury Secretary Scott Bessent is scheduled to hold a press conference after vowing the most severe sanctions ever imposed on Iran, with market attention centered on whether China might be targeted. Iran's foreign minister dismissed the threat of fresh U.S. sanctions as an act of desperation.

Investors are also looking for signals on the U.S. rate path when Federal Reserve Chair Kevin Warsh addresses the Jackson Hole symposium in Wyoming on Friday. He is likely to face questions regarding the Treasury's buyback program.

  • 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    • REPORT DESCRIPTION
    • RESEARCH METHODOLOGY AND THE AI PLATFORM
    • DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    • GLOSSARY AND SPECIFIC TERMS
  • 2. EXECUTIVE SUMMARY

    • KEY FINDINGS
    • MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
  • 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    • MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    • CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    • MARKET FORECAST TO 2035
  • 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    • TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    • BEST-SELLING PRODUCTS
    • MOST CONSUMED PRODUCTS
    • MOST TRADED PRODUCTS
    • MOST PROFITABLE PRODUCTS FOR EXPORT
  • 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    • TOP COUNTRIES TO SOURCE YOUR PRODUCT
    • TOP PRODUCING COUNTRIES
    • TOP EXPORTING COUNTRIES
    • LOW-COST EXPORTING COUNTRIES
  • 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    • TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    • TOP CONSUMING MARKETS
    • UNSATURATED MARKETS
    • TOP IMPORTING MARKETS
    • MOST PROFITABLE MARKETS
  • 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    • PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    • PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
  • 8. IMPORTS

    • IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    • IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    • IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
  • 9. EXPORTS

    • EXPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    • EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
    • EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
  • 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  • 11. COUNTRY PROFILES

    This Chapter is Available Only for the Professional Edition PRO
    • 11.1United States
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.2China
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.3Japan
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.4Germany
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.5United Kingdom
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.6France
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.7Brazil
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.8Italy
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.9Russian Federation
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.10India
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.11Canada
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.12Australia
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.13Republic of Korea
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.14Spain
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.15Mexico
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.16Indonesia
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.17Netherlands
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.18Turkey
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.19Saudi Arabia
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.20Switzerland
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.21Sweden
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.22Nigeria
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.23Poland
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.24Belgium
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.25Argentina
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.26Norway
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.27Austria
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.28Thailand
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.29United Arab Emirates
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.30Colombia
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.31Denmark
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.32South Africa
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.33Malaysia
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.34Israel
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.35Singapore
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.36Egypt
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.37Philippines
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.38Finland
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.39Chile
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.40Ireland
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.41Pakistan
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.42Greece
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.43Portugal
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.44Kazakhstan
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.45Algeria
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.46Czech Republic
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.47Qatar
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.48Peru
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.49Romania
      • Market Size
      • Production
      • Imports
      • Exports
    • 11.50Vietnam
      • Market Size
      • Production
      • Imports
      • Exports
  • LIST OF TABLES

    • Key Findings In 2025
    • Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    • Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
    • Per Capita Consumption, by Country, 2022–2025
    • Production, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Imports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Imports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Import Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Exports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Exports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Export Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
  • LIST OF FIGURES

    • Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    • Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
    • Consumption, by Country, 2025
    • Market Volume Forecast to 2035
    • Market Value Forecast to 2035
    • Market Size and Growth, By Product
    • Average Per Capita Consumption, By Product
    • Exports and Growth, By Product
    • Export Prices and Growth, By Product
    • Production Volume and Growth
    • Exports and Growth
    • Export Prices and Growth
    • Market Size and Growth
    • Per Capita Consumption
    • Imports and Growth
    • Import Prices
    • Production, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    • Production, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    • Production, by Country, 2025
    • Production, In Physical Terms, by Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Imports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    • Imports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    • Imports, In Physical Terms, By Country, 2025
    • Imports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Imports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Import Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Exports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    • Exports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
    • Exports, In Physical Terms, By Country, 2025
    • Exports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Exports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
    • Export Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)

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