archiveTrump vs Powell

The dollar advanced against its major peers after US President Donald Trump said he had no intention of firing Federal Reserve Chairman Jerome Powell.The greenback climbed the most against the yen and Swiss franc as a rise in US stock futures damped demand for haven assets. The dollar climbed as much as 1% versus both currencies to around 143.00 yen and 82.69 centimes, respectively. Some technical indicators and market positioning had suggested an overshooting of bearish dollar bets. The US currency fell to the lowest since December 2023 this week...

Listen to article The US dollar tumbled on Monday as investor concerns mounted over the Federal Reserve’s independence, following fresh comments from President Donald Trump suggesting he may attempt to remove Fed Chair Jerome Powell. The greenback fell sharply across global currency markets, hitting a 10-year low against the Swiss franc and sliding to a seven-month low versus the yen. The euro surged to its highest level in three years, while emerging market currencies also gained ground. The market reaction followed remarks from White House economic adviser Kevin Hassett, who confirmed the...