US Buyback Pledge Draws Japan Comparisons and Pressures Dollar

The US bond buyback pledge that whipsawed markets this week is prompting comparisons with policies in Japan, where efforts to contain borrowing costs resulted in prolonged currency weakness. The dollar is trading at a three-month low and is on track for its worst week this month. Geoffrey Yu, Senior EMEA Strategist at BNY, discusses the treasury buy backs and the dollar's resilience in correlated selloffs.