- The US Dollar dives lower on Tuesday, accelerates after Bessent’s comments.
- China is facing further scrutiny from the Trump administration with more semiconductor restrictions.
- The US Dollar Index (DXY) is dipping lower, pressured by a sell off in US yields.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades weaker after comments from United States (US) Secretary of the Treasury Scott Bessent. Bessent said that US yields will drop lower even without the Federal Reserve (Fed) due to the Trump policy. This triggered a firm drop in US yields across the board, dragging Gold, Bitcoin and the US Dollar along with it in its sell-off, deepening earlier losses.
The rout was initiated in early trading on Tuesday after the US President Donald Trump administration gave more details on its plan to toughen semiconductor restrictions over China….
