archiveScott Bessent

The dollar drifted lower on Monday after an early bump off a three-year low, as investor confidence in the world’s reserve currency remained in question following a stream of tariff-related pronouncements from US President Donald Trump.Investors braced for another volatile week as Trump’s imposition and then abrupt postponement of tariffs on goods imported to the US continued to sow confusion.The dollar reversed early gains as the Asian trading session got under way, languishing near a 10-year low against the Swiss franc at 0.8188.Sterling held to most of its 1.7 per...

Japan has denied an accusation by US President Donald Trump that it is manipulating the yen to benefit local manufacturers after the American leader suggested he is planning to impose retaliatory tariffs if his demands are not met.Speaking to reporters in the White House on Monday night, Trump singled out Japan and China for criticism.“Whether it is Japan or China, the weak currency against the dollar puts us at a great disadvantage,” Trump said. “It is hard for Caterpillar to make tractors when Japan and China are devaluing their currencies.“I...