Trump administration supports strong dollar, says Bessent

Investing.com -- U.S. Treasury Secretary Scott Bessent affirmed on Friday that President Donald Trump maintains a strong dollar policy, despite the currency's recent decline to a four-year low in late January.

When asked by CNBC about Trump's previous comments praising the dollar's decline as "great," Bessent explained that the administration's approach to currency strength is based on creating favorable conditions for dollar-denominated investments.

"The strong dollar policy is, are we doing the things to create a strong backdrop for the dollar?" Bessent said. "So our tax policy, our trade policy, our deregulatory policy, our energy policy, reasserting our sovereignty in critical minerals -- are we making the U.S. the best place for capital in the world? And I think no one has done that better than President Trump."

Bessent emphasized that the administration's economic policies are designed to make investing in dollar assets more attractive, which he suggested would ultimately support the currency's strength.

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