#us-dollar

#us-dollar

In a move without precedent in modern US history, Trump said on Tuesday evening that Cook was "effective immediately" removed from her position on the Fed's seven-strong governing board over allegations of mortgage fraud. Cook has denied wrongdoing and said she would not resign, setting the stage for a legal battle over whether the president has the authority to fire a Fed governor. The dispute comes as Trump intensifies pressure on the central bank to deliver steep interest rate cuts to support the economy and the jobs market.

President Donald Trump's attempt to dismiss Fed Governor Lisa Cook over fraud allegations has intensified concerns about the central bank's independence. Markets view the episode as part of a broader effort by Trump to increase influence over monetary policy, which could undermine confidence in the dollar. Cook's removal could pave the way for more dovish appointments, accelerating the prospect of rate cuts.

Foreign investor holdings of US Treasuries reached a record high of $9.13 trillion in June, reflecting strong overseas demand despite a declining dollar.

The dollar index suffered its biggest one-day drop since May 23 as markets swiftly reassessed the outlook for rates and growth.

The U.S. Dollar Index (DXY) has declined to 97.15, its lowest point since July 7, influenced by various political, monetary, and trade developments.

The US dollar steadied after three days of losses, as markets assessed the newly announced trade agreement with Japan, which involves a 15% tariff on exports.

The U.S. dollar recorded its worst first-half performance in over 50 years, showing a significant drop of 13% against the euro and 6% against the Japanese yen.

The US dollar strengthened amid an unexpected increase in job openings in America, as a result sterling edged lower by 0.3% to $1.3712.

The United States dollar has had its worst first six months of the year since 1973, as President Donald Trump's economic policies have prompted global investors to sell their greenback holdings.

On Monday morning, sterling edged higher against the dollar, trading at $1.356, recovering around 0.3% from losses experienced last week.

The US Dollar edged higher on Tuesday, stabilizing after a decline at the start of the week, though it remained near multi-week lows.

Despite some late-session retracement in GBP/USD, driven by natural profit-taking, the overall trend reflects strong market confidence in the British pound.

The unpredictable nature of President Trump's trade policy creates skepticism among European officials, who see opportunities for investors to shift towards euro-denominated assets.

Global trust and reliance on the dollar was built up over a half century or more. But it can be lost in the blink of an eye.

Due to the weaker US dollar, vacations in Europe and Japan this summer are likely to cost travelers significantly more than expected.