The dollar index is hanging on to losses at around a three month low on Monday morning in Asia amid reduced bets for an immediate interest rate hike by the US Federal Reserve (Fed) and softer US Treasury bond yields, which, in turn, lend support to the non-yielding bullion. The US Department of the Treasury said last Wednesday that it would at least double buyback operations for long-dated government debt starting in September. Meanwhile, investors continued to monitor tensions in the Middle East, with the US expected to announce new sanctions against Tehran. This could trigger further disruptions in oil movement and push energy prices higher. Markets will now focus on July PCE inflation data and Fed Chair Warshs Jackson Hole speech for further clues on the US rate outlook. The dollar index that measures the greenback against a basket of currencies is quoting at 98.78. Among basket currencies, EUR/USD and GBP/USD eased slightly and are trading around $1.1688 and $1.3642 …
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