The records describe related foreign-exchange developments in which changing US Treasury yields, Federal Reserve expectations and economic data drove contrasting moves in the dollar and Australian dollar. On Tuesday, the US dollar weakened after the Treasury Department announced increased purchases, described in the newer account as a bond buyback program, of longer-dated Treasury securities. Investors interpreted the plan as potentially allowing the Federal Reserve to keep rates lower for longer, slow further increases or adopt a more cautious tightening approach. On Monday, however, the Australian dollar weakened toward 0.6620 from recent highs above 0.6700 as the 10-year US Treasury yield rebounded above 4.2%, increasing the appeal of US assets and supporting the greenback. Mixed flash purchasing managers’ index data from the US, Eurozone and Australia offered no strong catalyst for the Australian currency: US services remained resilient, manufacturing was subdued, the Eurozone stayed in contraction and Australia’s composite PMI remained in expansion but came in slightly below expectations. The records report conflicting dollar and euro levels, including an ICE Dollar Index reading of 103.2 after a 0.3% decline and euro levels of 1.0850 and 1.1700, the latter described as a three-month high. The British pound rose to 1.2700, the dollar fell to 149.80 yen, the Australian dollar declined 0.4% to 0.6550 in one report and traded near 0.6620 in the other, while the Canadian dollar strengthened to 1.3650 per US dollar on firmer oil prices. The Swiss franc was steady. Markets are focused on Treasury auctions, Federal Reserve communications, US inflation and non-farm payrolls, and Reserve Bank of Australia commentary as traders assess the US-Australian policy gap and the outlook for AUD/USD.