Doha: The US dollar stood at three-month lows on Thursday after the Treasury Department moved to calm a bond market rout that had pushed long-end yields to their highest since 2007.

According to Qatar News Agency, the dollar index, which measures the US currency against six other units, was at 98.938, close to its lowest point since mid-May. The euro reached $1.1676, its highest level since late May. The dollar's decline provided some relief to the Japanese yen, as the currency moved away from the closely watched 160 level, settling at 158.32 per dollar. Meanwhile, the British pound was at $1.3603, and the Swiss franc was trading at 0.7981 per US dollar, near its two-month high.

The 30-year Treasury yield had risen to a 19-year high of 5.337% earlier this week, leading the US Treasury to announce plans on Wednesday to double liquidity support buyback operations for longer-dated bonds. Following this decision, the 30-year yield dropped 9 basis points and was last noted at 5.184%.