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Bessent Doubles Down, Dollar Slumps but Rates Little Changed

August 21, 2026
The market is pushing against the US recent initiatives. Japanese investors themselves have continued to buy foreign assets in size in the first two weeks after the intervention. The Ministry of Finance data showed Japanese investors bought around $36.5 bln of foreign assets in the first two weeks of August.  Treasury Secretary Bessent expressed p…
Bessent Doubles Down, Dollar Slumps but Rates Little Changed Bessent Doubles Down, Dollar Slumps but Rates Little Changed Reviewed by Marc Chandler on August 21, 2026 Rating: 5
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To Support the US Treasury Market, Bessent Sent the Greenback Reeling

August 20, 2026
The US Treasury announcement early in North America yesterday that it would at least double the size of liquidity support buyback operations for longer-dated nominal coupon securities. The current maximum size is $16 bln a quarter. The stepped-up purchases will take effect on September 9. Treasury will provide more information about future buyback…
To Support the US Treasury Market, Bessent Sent the Greenback Reeling To Support the US Treasury Market, Bessent Sent the Greenback Reeling Reviewed by Marc Chandler on August 20, 2026 Rating: 5
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Three-Day Reprieve for Canada from US Tariffs

August 19, 2026
The US dollar remains on the defensive. It is lower against the G10 currencies but the Australian dollar, which is nursing a small loss. By a narrow margin, the Japanese yen is leading pack, though the greenback has held above JPY159 in Europe. The Canadian dollar is firm and testing yesterday’s high after a last-minute postponement of the US tari…
Three-Day Reprieve for Canada from US Tariffs Three-Day Reprieve for Canada from US Tariffs Reviewed by Marc Chandler on August 19, 2026 Rating: 5
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The Dollar is Mostly Firmer but in Narrow Ranges

August 18, 2026
The US dollar is mostly firmer against the major currencies.  The Australian and Canadian dollars are the exception, but their gains are minor.  Still, the Canadian dollar’s resilience in the face of the US tariffs it faces first thing tomorrow is notable.  While some progress has been reported, it seems too close to call.  October WTI is at a new…
The Dollar is Mostly Firmer but in Narrow Ranges The Dollar is Mostly Firmer but in Narrow Ranges Reviewed by Marc Chandler on August 18, 2026 Rating: 5
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Dollar's Losses Extended, but Stabilizing Ahead of the North American Session Dollar's Losses Extended, but Stabilizing Ahead of the North American Session Reviewed by Marc Chandler on August 17, 2026 Rating: 5
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Week Ahead: Downward Data Surprise Stretch the US Dollar's Momentum Indicators Week Ahead: Downward Data Surprise Stretch the US Dollar's Momentum Indicators Reviewed by Marc Chandler on August 15, 2026 Rating: 5
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USD Trades Heavier and Look for North America to Follow Suit

August 14, 2026
Tomorrow is the 55th anniversary of the end of Bretton Woods. R.I.P.  It was an economic agreement, pegging the dollar to gold and the other currencies to the dollar, and establishing the World Bank, and the International Monetary Fund. Ultimately, however, it was political in nature.  It was an exercise in the Golden Rule.  He with the gold makes…
USD Trades Heavier and Look for North America to Follow Suit USD Trades Heavier and Look for North America to Follow Suit Reviewed by Marc Chandler on August 14, 2026 Rating: 5
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