US dollar dips after Trump fires Fed Governor Cook

US dollar dips after Trump fires Fed Governor Cook

Source: EODHD - https://www.investing.com/news/forex-news/us-dollar-dips-after-trump-fires-fed-governor-cook-4210015
Published: Aug 25, 2025 9:34 PM

Investing.com-- The U.S. dollar weakened on Tuesday after President Donald Trump fired Federal Reserve Governor Lisa Cook over alleged mortgage fraud, a move that heightened concerns over the central bank’s independence. The US Dollar Index, which measures the greenback against a basket of major currencies, fell 0.2% in Asia hours. US Dollar Index Futures also traded 0.2% lower as of 01:24 GMT. Treasury yields initially declined but later rose modestly, with the 10-year benchmark yield rising 0.3% to 4.2887%. Trump, in a letter released to social media, said that there is “sufficient cause” for Cooke’s removal. Cook, the first African-American woman to serve on the Fed’s board, was removed f...

Market context: This update is relevant to USD traders, with USDJPY as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.