New Delhi, Aug. 19 -- The US dollar continued to remain under pressure in trade, falling to multi-week lows after the US Treasury doubled its debt buyback programme to help calm the bond market, sending yields sharply lower amid substantial market stress.

After closing the previous session with a modest gain, renewed selling dragged the US dollar to its lowest level since late May, with the greenback falling 0.80% against a basket of currencies to 98.4.

The bond market has remained under pressure lately, with yields spiking to multi-decade highs amid a worsening US fiscal situation and persistently high inflation, prompting investors to dump Treasuries as they demand higher yields amid growing economic risks.

To calm the markets, the U...