Treasury Secretary Bessent reiterated a strong dollar policy, attributing potential support to a narrowing trade deficit and ruling out intervention in USD/JPY rates.
The US Dollar Index rose 0.8% to 96.56, reflecting a strengthening against major currencies. Treasury Secretary Bessent stated the US adheres to a strong dollar policy and will not intervene in the USD/JPY exchange rate. Bessent noted that a reduced trade deficit may support the currency. This movement followed earlier pullbacks in the euro, pound, and yen after gains, reinforcing the dollar’s upward trend.