US Treasury Secretary Downplays Concerns Over Dollar Depreciation as Markets Speculate Trump Administration May Be Intentionally Weakening the Dollar
According to a report by Jinse Finance, Societe Generale analyst Kit Juckes noted that recent comments by U.S. Treasury Secretary Bessent have further fueled market speculation that the Trump administration intends to promote a weaker dollar. On Monday, Bessent told CNBC that there is no need to worry about the dollar's decline. He stated that currency fluctuations are normal and pointed out that the dollar's drop is mainly due to the euro's appreciation. He said, "Given the scale of fiscal stimulus in Europe, the euro's rise is to be expected." Juckes believes these remarks reflect a view within the U.S. government that a weaker dollar could help narrow the trade deficit. He also predicted that the euro could rise to 1.20 later this year and potentially reach a high of 1.25 in the future.
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