British Pound jumps as Treasury buyback weakens the US Dollar

The Pound Sterling climbs against the Greenback on Wednesday as the US Treasury stepped up in the markets to offer liquidity support via a buyback of longer-dated bonds , a day after the US 30-year yield hit its highest level since 2007. The GBP/USD trades at 1.3610 after bouncing off daily lows of 1.3523.

GBP/USD rallies as US Treasury buyback lowers yields before Fed minutes

The announcement by the US Treasury Secretary pushed US yields lower, as did the Dollar. The US Dollar Index (DXY), which tracks the performance of the buck’s value against six currencies, is down 0.84% at 98.80, near levels last seen by the end of May.

The rise in US…

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