π USD dips, CAD gains strength in forex moves
Net-long exposure to the US dollar is decreasing, though the pace hasn't been as fast as expected in recent reports. Traders are reluctant to drop the dollar despite the US Treasury's buyback plan, according to COT data up to last Tuesday's close. The Japanese yen managed a rare win against the US dollar last week, influenced by Treasury yield movements. Meanwhile, the Australian dollar rallied for its eighth straight week, nearing an 11-week high. Over the past month, the dollar has lost ground against the Pound, Euro, AUD, NZD, and CAD.