Dollar drops after Trump fires Fed’s Cook

Dollar drops after Trump fires Fed’s Cook

Source: EODHD - https://www.investing.com/news/economy-news/dollar-drops-after-trump-fires-feds-cook-4210012
Published: Aug 25, 2025 9:25 PM

By Gregor Stuart Hunter SINGAPORE (Reuters) -The U.S. dollar surrendered gains in early trading in Asia on Tuesday after U.S. President Donald Trump said he was removing Federal Reserve Governor Lisa Cook from her position for allegedly committing mortgage fraud. The dollar index fell 0.3% to 98.187 after Trump made the announcement in a letter to Cook that he posted on social media. The pullback came after the U.S. currency had registered its biggest daily gain of the month on Monday. "Markets aren’t panicking, but they are recalibrating, earlier rate cuts look more likely after Cook’s removal," said Charu Chanana, chief investment strategist at Saxo in Singapore. "But this isn’t just about...

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