The Rupee opened stronger on Thursday, after the dollar slid to a three-month low following the U.S. ?Treasury's move to boost buybacks of longer-dated bonds to alleviate pressure on ?the bond market. The dollar index fell 0.88% ?on Wednesday, posting its biggest daily decline since mid-March, after the U.S. ?Treasury unveiled plans to double the size of its liquidity-support operations for longer-dated ?bonds. This comes after a selloff in long-dated U.S. Treasuries prompted the 30-year yield to rise to the highest since 2007 on concerns over inflation and investors demanding a higher term ?premium. Relief for the rupee from the dollar's slump is likely to be limited, with oil ?prices remaining high and Brent crude hovering near $92 a ?barrel. Oil markets ?continue to assess the outlook for the U.S.-Iran war and the security of shipping through the Strait of Hormuz. The U.S. dollar nursed steep losses on Thursday, hovering near three-month lows as investors digested measures announced by ?the U.S. Treasury Department to help calm the bond market that had ?seen long-end yields hit their highest since 2007. The dollar index , which measures the U.S. currency against six other units, was at 98.938, around its lowest level since mid-May. The euro was at $1.1676, perched at the ?highest level since late May. The U.S. Treasury unveiled plans to double liquidity support ?buyback operations for longer-dated bonds after a steep bond selloff pushed the ?30-year Treasury yield to a 19-year high of 5.337%. The yield was last at ?5.184% after dropping 9 basis points following the announcement on Wednesday. The Japanese yen last fetched 158.32 per dollar, pulling away ?from the ?closely watched 160 level after giving back much ?of its joint intervention gains from the end of July. Sterling was at $1.3603, while Swiss franc last bought 0.7981 per ?U.S. dollar, near a two-month high. Oil prices steadied in early trade on Thursday as investors assessed the outlook for the U.S.-Iran war and the security ?of shipping through the Strait of Hormuz. Brent crude futures for ?October delivery rose 25 cents, or 0.3%, to $91.87 a barrel by 0037 GMT, while U.S. West Texas Intermediate crude futures for September slipped 2 cents to $85.81 a barrel. The ?more active October WTI contract gained 14 cents, or 0.2%, to $84.53.......
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