US dollar weakens as Trump's nomination of Scott Bessent for Treasury Secretary calms markets.
The US dollar weakened after President-elect Donald Trump nominated Scott Bessent for Treasury Secretary. The appointment calmed investors, leading to a rise in bond and stock futures, and strengthening currencies like the euro, pound, and Aussie against the dollar. Bessent's support for gradual tariff implementation and fiscal stability is seen as positive for the US economy, though the dollar is expected to consolidate after recent gains.
November 24, 2024
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