Dollar Sinks As Investors Flock To Gold, Crypto After Scott Bessent’s Treasury Buyback

The DXY dollar index fell to 98.6630 on Friday, down 0.23% from the previous session, bringing its decline over the past month to 2.43%. The dollar’s weakness follows the Treasury Department’s decision to at least double its purchases of longer-dated government bonds, a move that initially triggered a selloff in the currency while boosting gold and Bitcoin in what some market participants have dubbed the “debasement trade.”