Donald Trump's Treasury pick fuels global relief rally against dollar

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Donald Trump's Treasury pick fuels global relief rally against dollar - Business Standard

Quick Summary:

US Treasuries climbed across the curve in early trading with the yield on benchmark 10-year notes falling five basis points to 4.

Market participants surveyed by Bloomberg following Bessent’s appointment see the hedge fund manager taking a more phased approach on tariffs and attempting to rein in the budget deficit.

Bessent’s view that tariffs should be imposed gradually and that the levies currently being discussed are “maximalist” positions — meaning they could be negotiated lower — should help Asian currencies, Spratt said.