The US Treasury Secretary played down concerns about the depreciation of the dollar, and the market speculated that the Trump administration intended to promote the weakening of the dollar

Kit Juckes, an analyst at Socie ́ te ́ Ge ́ ne ́ rale, noted in a note that recent comments by US Treasury Secretary Vincent Bescent have further strengthened market speculation that the Trump administration intends to push the dollar down. In an interview with CNBC on Monday, Mr. Bescent said the weakness of the dollar was not cause for concern. He called currency fluctuations normal, noting that the dollar's decline was mainly influenced by the appreciation of the euro. "Given the extent of fiscal stimulus in Europe, a rise in the euro is to be expected," he said. Mr. Juckes argued that the comments reflected a view within the US administration that a weaker dollar would help narrow the trade deficit. He also predicted that the euro could rise to 1.20 later this year and hit a high of 1.25 in the future.