According to online reports, XTB research director Kathleen Brooks said that the dollar fell as President-elect Donald Trump announced that he would nominate hedge fund manager Scott Bessant as Treasury Secretary. "Besant is seen as an antidote to Trump's most extreme economic views," Brooks said. Bessent advocates reducing government spending and is expected to advocate a slow and stable approach to trade tariffs that could lead to inflation. Brooks said this could boost risk sentiment and reduce the flow of safe-haven funds to the dollar. However, due to the excellent performance of the U.S. economy, the dollar's decline will be limited. The dollar may still "tilt upward before the end of the year, and any weakness may be used as a buying opportunity."