Bessent says strong dollar based on credibility, policy certainty
US treasury secretary Scott Bessent says the US dollar thrives as a reserve currency, with rising global transaction volumes reflecting the credibility of the US financial system.
US Treasury Secretary Scott Bessent stated on Tuesday that the US dollar remains a dominant reserve currency, with global transaction volumes increasing as evidence of the system's credibility and the administration's policies. He emphasized that a strong dollar isn't merely a price on a screen, but a collection of actions, specifically regulatory, tax, trade, and energy certainty, which have attracted significant capital to the US.
Bessent noted that Russia and China have reduced their reserves, but other nations are more proactive. He highlighted that two of the most successful Treasury auctions in the past 20 years are a testament to the system's credibility and the administration's efforts, fostering a global confidence in the United States.
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- Bessent says strong dollar based on credibility, policy certainty freemalaysiatoday.com
