Citi strategists say the U.S. Treasury’s expanded buyback program for long-term Treasuries has eased upward pressure on long-term bond yields, but may weaken the dollar in the short term. The bank recommends investors close dollar-long positions and use the dollar as a funding currency to buy higher-yielding emerging-market currencies. Citi has also raised its outlook for gold and duration assets, saying gold may continue to rise as pressure on the long end of the yield curve comes under control. It has withdrawn its previous underweight view on duration assets and expects the Federal Reserve to leave interest rates unchanged at its next two meetings.