Trump's economic adviser says new Trump administration will support a strong dollar

Odaily News Trump economic adviser Scott Bessent told the Financial Times on Sunday that the new US government, likely to be led by Donald Trump, will support a strong dollar, in line with decades of US policy, and downplayed concerns about a devaluation of the dollar during Trump's presidency. As the November 5 election day approaches, Democrat Kamala Harris is lagging behind Republican Donald Trump, who is said to support cryptocurrency, in Polymarket's prediction market. Earlier this year, Trump and his running mate JD Vance called for a devaluation of the dollar to promote manufacturing. However, Bessent told the Financial Times that he does not think Trump will deliberately devalue the dollar, but will stick with the dollar as a "reserve currency." Devaluation refers to deliberately devaluing the exchange rate of a country's currency to promote exports. (Coindesk)