US Treasury Secretary Bessent: Greenland’s dispute is very different than other trade deals
United States (US) Treasury Secretary Scott Bessent said in the World Economic Forum (WEF) at Davos that tariff threats by President Donald Trump on several European Union (EU) members over Greenland’s dispute is very different than the other trade deals.
Additional remarks
The worst thing other countries can do is to escalate trade tensions against the US.
What Trump is threatening on Greenland is very different than the other trade deals.
I'm sure European governments will continue holding US treasuries.
Europe is not talking about dumping treasuries.
US membership of NATO is "unquestioned".
We'll see a strong economy this year.
US to have real GDP growth of around 4% to 5%.
Fed chair announcement could be as early as next week.
There are four candidates for the Fed chair presently.
Planning to meet Swiss Vice President.
Swiss-US trade agreement is well along the road.
Market reaction
There seems to be a significant negative impact of Bessent's comments on the US Dollar. The US Dollar Index falls futher to near 98.75 as of writing.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.40% | -0.38% | 0.17% | -0.21% | -0.43% | -0.73% | -0.51% | |
| EUR | 0.40% | 0.03% | 0.54% | 0.19% | -0.02% | -0.34% | -0.11% | |
| GBP | 0.38% | -0.03% | 0.51% | 0.17% | -0.06% | -0.36% | -0.13% | |
| JPY | -0.17% | -0.54% | -0.51% | -0.35% | -0.58% | -0.89% | -0.65% | |
| CAD | 0.21% | -0.19% | -0.17% | 0.35% | -0.23% | -0.53% | -0.29% | |
| AUD | 0.43% | 0.02% | 0.06% | 0.58% | 0.23% | -0.30% | -0.06% | |
| NZD | 0.73% | 0.34% | 0.36% | 0.89% | 0.53% | 0.30% | 0.23% | |
| CHF | 0.51% | 0.11% | 0.13% | 0.65% | 0.29% | 0.06% | -0.23% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Author
Sagar Dua
FXStreet
Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.
