The dollar held steady on Monday as US Treasury Secretary Scott Bessent outlined the Trump administration's economic strategy at the Milken Institute Global Conference, describing American markets as "anti-fragile" and well-positioned to weather any temporary volatility.
Bessent delivered a robust defense of Trump's economic agenda, characterizing tariffs, tax cuts and deregulation as "interlocking parts of an engine" designed to drive long-term investment in the US economy. He emphasized that the Republican tax bill would make many components of Trump's first-term cuts permanent, including deductions for small businesses.
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Create account Try a demo Download mobile app Download mobile appThe Treasury chief projected confidence in US financial markets, citing their historical resilience through multiple crises over the past century. "Each time the American economy gets knocked down, it gets back up again," Bessent said, summarizing US economic history as moving consistently "up and to the right."
EURUSD (D1)
EURUSD remains stable following Bessent's remarks. Key support lies at the 30-day SMA, which has previously signaled trend continuation favoring dollar weakness.
