Bessent: The strength of the dollar is based on credibility and policy certainty

Odaily News: U.S. Treasury Secretary Bessent said on Tuesday that the dollar continues to remain strong as a reserve currency, and the growth in global trading volume reflects "the credibility of our system and the measures taken by this administration." Bessent said at a congressional hearing: "A strong dollar is not a price on a screen; it is a reflection of a series of actions. As we have seen during this administration's term, we are establishing regulatory certainty, tax certainty, trade certainty, and energy certainty, and this is bringing trillions of dollars in capital to the United States." He said that although countries such as Russia have reduced their foreign exchange reserves, other countries are still actively increasing their holdings. (Jinshi)