USD strengthens as Treasury Secretary Bessent outlines policy stance

The US dollar gained broad support following Treasury Secretary Scott Bessent's comprehensive policy commentary covering domestic economic priorities, international trade relations, and geopolitical risk assessments. Bessent's remarks reinforced confidence in US economic policy direction, particularly regarding Federal Reserve independence and strategic approaches to emerging technologies including AI development. His statements on trade policy and geopolitical positioning provided clarity that reduced uncertainty premiums in dollar pairs. The dollar index (DXY) rose 0.4% to 104.20, with gains against most major currencies. Market participants interpreted Bessent's balanced approach to fiscal and monetary coordination as dollar-supportive, especially given his emphasis on maintaining economic stability while addressing inflation concerns. Technical indicators suggest continued dollar strength, with the DXY approaching resistance at 104.50, while support has formed at 103.80.