US Dollar Falls Again as Debasement Fears Outweigh Bessent’s Boost

The dollar weakened, halting Wednesday’s bounce, as the return of the so-called debasement trade outweighed Treasury Secretary Scott Bessent’s affirmation of the strong-greenback policy.

Bloomberg’s gauge of the US currency slipped 0.3%, while precious metals such as gold and silver extended their record-breaking rallies. The dollar hasn’t acted like a haven currency for a while as investors prefer tangible havens such as precious metals, DoubleLine Capital chief executive officer Jeffrey Gundlach said in an interview with CNBC.