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Bessent Touts a Strong Dollar After Trump Brushed Off Its Drop
['Daniel Flatley', 'Anya Andrianova', 'George Lei', 'Thu', 'January', 'At A.M. Gmt', 'Min Read']
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Treasury Secretary Scott Bessent touted a strong-dollar policy on Wednesday, offering the greenback support a day after comments by President Donald Trump had sent the US currency tumbling.
“The US always has a strong dollar policy,” Bessent said in an interview on CNBC.
“But a strong dollar policy means setting the right fundamentals,” he said.
Asked whether the US might take such a step, he said that “we don’t comment other than to say we have a strong dollar policy.”His comments sparked a broad rebound in the dollar Wednesday but some of the gains faded by Thursday morning in Asia, with the Bloomberg Dollar Spot Index falling 0.2%.
Japan’s currency has been tumbling since October, sliding near its weakest level versus the greenback since 1986 earlier this month.