A weaker US dollar pushed Asian currencies higher, good news for the region's currencies but a sign of ongoing worry about America's debt.

• The US Treasury said it would buy back more long-term government bonds, which pushed bond yields down and knocked the dollar below a key level.
• The Taiwan dollar rose for a second day, though the central bank stepped in to slow the gains and trading volume shrank.
• The Japanese yen strengthened and the Chinese yuan hit a three-and-a-half-year high; the Korean won paused after a sharp run up.
• Taiwan's stock market closed higher, with foreign investors buying modestly, but big money has not fully returned yet.
• The bond buybacks do not fix America's deeper problems — a huge budget deficit, heavy debt, and inflation.

Outlook: Whether the dollar keeps sliding depends on upcoming US economic data and the Fed's next move on interest rates, with a technical bounce possible in the near term.