US EditionDollar hits 3-year low on report Donald Trump could pick next Federal Reserve chair early
UNITED STATES, JUN 26 – President Trump’s plan to name a new Federal Reserve Chair early has driven the US dollar to its lowest level since April 2022 amid rising bets on interest rate cuts.
- The dollar index sank to its lowest since April 2022 after a report said President Donald Trump plans to name a new Fed chair early, fueling bets on rate cuts.
- President Donald Trump’s push to replace Fed Chair Powell by September, driven by frustration over rate policy, prompted early replacement talks amid concerns over Fed independence.
- Following the report, the dollar index fell to its lowest since April 2022, with traders pricing a 69% chance of September rate cuts and over $1 billion flowing into Bitcoin ETFs.
- The dollar's decline, fueled by Trump’s early Fed chair plans, boosted safe-haven assets like gold and silver, which rose amid market fears of political interference.
- Analysts warn the dollar testing support near 97.5 could break, potentially fueling Bitcoin's surge toward new highs amid growing market volatility.
149 Articles
149 Articles
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Dollar Falls to 3-1/4 Year Low as President Trump Looks to Fast-Track His Pick for New Fed Chair
The dollar index (DXY00 ) on Thursday fell by -0.54%, reaching a 3-1/4 year low. The dollar retreated following a Wall Street Journal report that said President Trump is considering accelerating the announcement of the next Fed Chair. The dollar remained lower on Thursday’s US economic news of a downward...
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Hong Kong - Media OutReach Newswire - June 27, 2025 - Uncertainty in trade policy, ambiguity in the Fed's policy and continued easing by major central banks around the world are weakening the global appeal of the US dollar. The US dollar index continued to weaken in the second quarter, falling to the level of early 2022. The VT Markets research team pointed out that market concerns about the expansion of the US fiscal deficit and policy risks ar…
Dollar slumps to lowest against the euro since 2021 as Donald Trump considers nominee for Fed chair
The US dollar hit a three-and-a-half-year low against the euro and sterling yesterday as markets eye the potential of a new Donald Trump-appointed chair of the Federal Reserve slashing interest rates.
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