"Following his other nominations, and the drawn-out battle among the contenders for the Treasury job, you could literally hear the sigh of relief from financial markets participants in the US when Bessent was announced," Erik Nielsen, chief economics advisor at UniCredit Bank GmbH wrote in a note to clients.
"The greenback is due for some consolidation after its barn-storming run of late due to the Trump trade and stronger economic data flow," said Jason Wong, a Wellington-based currency strategist at the Bank of New Zealand.
Market participants surveyed by Bloomberg following Bessent's appointment see the hedge fund manager taking a more phased approach on tariffs and attempting to rein in the budget deficit, regarded as positive signs for the US economy and markets.
The dollar notched its longest stretch of weekly advances in more than a year on Friday as traders continued to price in Trump's fiscal policies including sweeping trade tariffs and persistent economic growth.
Collection
[
|
...
]