Reported about 6 hours ago
The selection of Scott Bessent as the next Treasury Secretary has led to a surge in global currencies against the dollar, as traders express relief that his cautious approach could temper Donald Trump's 'America First' policies. The dollar fell 0.6%, with major currencies such as the yen and euro performing strongly. Bessent's nuanced stance on tariffs and potential for negotiations has alleviated concerns about Trump's impact on global markets, suggesting a more measured economic outlook under his guidance.
Source: YAHOO