Dollar down as Trump picks Scott Bessent for role of Treasury secretary ...Middle East

The initial reaction seems to be that billionaire Scott Bessent is a "markets guy". Wall Street is reacting favourably with US futures gapping higher while bonds are also bid, dampening the dollar. So, why exactly are markets responding to Bessent in such a way? Let's take a look.Bessent has been a rather vocal guy, even after when Trump has won the election earlier this month. He is well known to be a fiscal hawk and that's a good thing for debt and finances. That especially with plenty of scrutiny on the US deficit, so Bessent is a "safe choice" in that sense. And also for the economy I guess.All that being said, we'll have to wait and see if he will walk the talk when it comes to this.On

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