U.S. Treasury Secretary Reasserts Commitment to a Strong Dollar

In the face of recent market fluctuations, including the dollar index’s historic decline and increased interest in cryptocurrencies and precious metals, U.S. Treasury Secretary Scott Bessent reaffirmed the unwavering commitment to a strong dollar policy during a Tuesday address in Washington D.C. His remarks come as the USD has weakened nearly 9% year-to-date, reaching levels not seen since April 2022. This decline is attributed to factors like trade tensions, Treasury buybacks, and potential shifts in monetary policy.