Treasury Secretary Scott Bessent cited dollar dominance and bullish economic data to defend the U.S. economy as the 10-year Treasury yield reached 5%. According to NS3.AI, he said Treasury bond buybacks are meant to improve liquidity and manage the maturity structure, not to suppress yields.

Bessent also described Saudi Arabia's departure from the China-backed mBridge platform as a win for the dollar. Saudi Arabia said it had completed a planned trial, while the project continues elsewhere.