US EditionDollar Weakens as Trump's Move to Fire Fed Governor Spooks Investors
Trump's firing of Fed Governor Lisa Cook over mortgage loan allegations raises doubts about Federal Reserve independence and shifts market expectations toward a September interest rate cut.
- On Tuesday, President Donald Trump fired Federal Reserve Governor Lisa Cook, coinciding with a 0.33% drop in the dollar index to 98.15.
- The dismissal followed President Donald Trump's repeated pressure on the Federal Reserve and Chair Jerome Powell, marking a sharp escalation and testing presidential authority over the central bank by removing Governor Lisa Cook over alleged mortgage loan improprieties.
- Markets reacted with currency and crypto moves as the euro and sterling rose about 0.3% at $1.1654 and $1.3491, bitcoin hit $110,286.43, and dollars exchanged fell to $1.44 billion from $1.7 billion.
- Traders are pricing an 86 per cent probability of a September rate cut, with Morgan Stanley joining forecasts, while analysts at Goldman Sachs warned of dollar risks and Uto Shinohara said it's "kept the dollar in check this morning."
- Worries over renewed political instability in France added pressure on bond markets as France's government bonds fell Tuesday and the 10-year government bond yield rose to 3.53%, its highest since March.
12 Articles
12 Articles
After U.S. President Donald Trump, in an unprecedented act, fired Lisa Cook, a Federal Reserve (Fed) governor the government has decided to investigate for alleged mortgage fraud, the dollar weakened globally.
Peso weakens on Fed concerns - BusinessWorld Online
THE PESO dropped against the dollar on Tuesday as US President Donald J. Trump’s move to fire a Federal Reserve official sparked renewed concerns over the central bank’s independence. The local unit closed at P57.07 per dollar, weakening by 12 centavos from its P56.95 finish on Friday, Bankers Association of the Philippines data showed. The peso opened the session stronger at P56.70 against the dollar. Its intraday best was at P56.65, while its …
Dollar falls as Trump move to oust Fed governor unnerves markets | Honolulu Star-Advertiser
NEW YORK/MUMBAI >> The dollar weakened against major currencies today as President Donald Trump’s unprecedented move to fire Federal Reserve Governor Lisa Cook renewed concerns over the central bank’s independence.
The Mexican peso advanced slightly this Tuesday before a global withdrawal of the dollar after the decision of the President of the United States, Donald Trump, to dismiss the governor of the Federal Reserve Lisa Cook. The exchange rate quoted at 18,6540 pesos to the dollar, with a marginal appreciation of 0.03% for the Mexican currency against the reference price of LSEG on Monday. The leading index S&P/BMV IPC, which groups the most traded sha…
Dollar weakens as Trump's move to fire Fed governor spooks investors
NEW YORK/MUMBAI :The dollar weakened against major currencies on Tuesday as President Donald Trump's unprecedented move to fire Federal Reserve Governor Lisa Cook renewed concerns over the central bank's independence.The euro rose 0.37 per cent against the dollar to $1.1664 while sterling rose 0.24 per cent t
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