Remarks Come Amid Sharp Decline in DXY and Renewed Interest in Bitcoin and Gold
U.S. Treasury Secretary Scott Bessent stated on Tuesday that the United States remains committed to a strong dollar policy, despite recent market volatility and the dollar index (DXY) dropping to its lowest level in over three years.
“The U.S. continues to adhere to a strong dollar policy,” Bessent said in prepared remarks during his financial system address in Washington, D.C.
The reaffirmation comes as the U.S. dollar has weakened nearly 9% year-to-date, falling to 98.8 — a level last seen in April 2022 — amid heightened concerns over trade tensions, Treasury buybacks, and potential shifts in monetary policy.
Market Context: Dollar Weakness, Crypto Strength
The timing of ’s statement is notable as Bitcoin (BTC) and gold have surged to multi-week highs, with investors increasingly viewing both assets as hedges against dollar depreciation and macroeconomic instability.
BTC recently crossed $94,000, its highest since early March
Gold hit a new all-time high of $3,382 per ounce
Equity markets also remain elevated, with the S&P 500 gaining 2.5% on the day
Despite these moves, analysts suggest Benson’s remarks are intended to calm markets and reinforce the U.S. government’s long-standing currency policy.
