[MARKET ANALYSIS] DXY gets some slight reprieve after suffering as yields dropped on the US Treasury's plans to at least double buybacks of longer-dated debt

DXY: +0.1% Gets some slight reprieve after weakening yesterday alongside a drop in long-end yields in response to the US Treasury announcing plans to increase the size of liquidity support buyback operations for longer-dated nominal coupon securities by at least double. The announcement marks a signal from the US Treasury of a willingness to step in and ease fears over rising long-end yields; however, given the increase only pertains for the remainder of this refunding quarter, further USD weakness may be limited. Separately, the FOMC Minutes sparked little reaction as they highlighted what Fedspeak has pointed towards in recent weeks, in which most participants assessed higher rates would likely be necessary if inflation did not fall, while Chair Warsh made the case that six scheduled meetings per year instead of eight would allow more information to accumulate between meetings, although no final decision was made. EUR/USD: Flat Lingers around the prior day's best levels after gaining a firm footing on a breach above the 1.1600 level. GBP/USD: Flat Takes a breather after benefitting from the dollar's recent demise, while the latest inflation data for the UK was somewhat mixed as the headline printed in line with forecasts and with Core CPI firmer-than-expected. USD/JPY: +0.2% Rebounded from the prior day's trough after support held at the 158.00 level and as Japanese yields retreated. Antipodeans: AUD/USD -0.1% / NZD/USD +0.4% Mixed price action with mild pressure seen in AUD/USD following disappointing jobs data in which headline Employment Change unexpectedly contracted and the Unemployment Rate rose to 4.5% from 4.4%.