Scott Bessent, Mr. Trump's economic adviser, told the Financial Times on Sunday that a new US administration likely to be led by Donald Trump would support a strong dollar, in line with decades of US policy, and played down concerns about a weaker dollar under Mr. Trump's presidency.
As Election Day approaches on November 5, Democrat Kamala Harris trails Republican Donald Trump, who is said to support cryptocurrencies, in Polymarket's prediction market. Earlier this year, Trump and his running mate JD Vance called for a weaker dollar to boost manufacturing.
However, Mr. Bescent told the Financial Times that he did not think Mr. Trump would deliberately devalue the dollar, instead insisting on it as a "reserve currency" - the deliberate devaluation of a national currency to boost exports.
Trump's economic advisor says the new Trump administration will support a strong dollar
2024-10-14 08:22:32
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