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Bissant: Dollar depends on credibility
US Treasury Secretary Scott Bissent stated that the strength of the US dollar depends on credibility and political certainty. It reflects the increasing volume of global transactions, the stability of the American system, and the policies pursued by the administration. He pointed to the success of recent Treasury auctions, which are among the most prominent in 20 years, reinforcing international markets' confidence in the dollar despite Russia and China's reserves declining. Bissent also attributed the rise in Treasury bond yields to global crises and emphasized the importance of the upcoming meeting with China's Vice Premier, paving the way for the summit between Trump and Xi Jinping.
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