<\/p>\n\n\n\n
The U.S. dollar tumbled sharply on Monday, hitting multi-year lows against key global currencies, as markets were rattled by President Donald Trump\u2019s push to oust Federal Reserve Chair Jerome Powell\u2014a move that threatens to undermine the independence of the U.S. central bank.<\/p>\n\n\n\n
With investor confidence in U.S. monetary policy taking a fresh blow, the dollar’s slide accelerated amid thin holiday trading, driving strong gains for the Swiss franc, euro, and New Zealand dollar.<\/p>\n\n\n\n
The selloff in the dollar came after White House economic adviser Kevin Hassett<\/strong> confirmed on Friday that Trump and his legal team were still studying whether the president can fire Fed Chair Jerome Powell<\/strong>.<\/p>\n\n\n\n This followed Trump\u2019s now-infamous remarks on Thursday, in which he stated that “Powell\u2019s termination cannot come fast enough,”<\/strong> while doubling down on calls for immediate interest rate cuts to ease the economic pain from tariffs and recession fears.<\/p>\n\n\n\n The prospect of direct political interference in monetary policy sent shockwaves through currency markets, prompting investors to flee the dollar in favor of safer and more stable alternatives.<\/p>\n\n\n\n The U.S. Dollar Index<\/strong>, which tracks the greenback against a basket of six major currencies, plunged to 98.164<\/strong>, its lowest since early 2022<\/strong>.<\/p>\n\n\n\n Global investor sentiment remains fragile, as Trump’s sweeping tariffs<\/strong> and unpredictable trade policies, especially toward China and the European Union<\/strong>, continue to cast a shadow over U.S. economic prospects.<\/p>\n\n\n\n Markets have been further spooked by the administration’s signal that Fed independence is not guaranteed<\/strong>, eroding trust in the stability of U.S. policymaking.<\/p>\n\n\n\n In China, the onshore yuan<\/strong> rose to a two-week high<\/strong> at 7.2904 per dollar<\/strong>, while the offshore yuan<\/strong> touched a one-week peak<\/strong> at 7.2835<\/strong>, before paring some gains.<\/p>\n\n\n\n The People\u2019s Bank of China<\/strong> held its benchmark lending rates steady for the sixth straight month<\/strong>, as expected. However, traders are increasingly betting on additional stimulus<\/strong> from Beijing, especially as the U.S.-China trade war intensifies<\/strong>.<\/p>\n\n\n\n With major European and Asian markets closed for Easter Monday<\/strong>, trading volumes were light. Still, the sharp moves in currency markets signal a growing unease with the direction of U.S. economic and monetary leadership under President Trump.<\/p>\n\n\n\n Unless the White House backs off its threats to politicize the Fed or walk back from aggressive trade policies, the dollar\u2019s weakness could deepen<\/strong>, particularly if safe-haven demand continues to drive capital flows toward the Swiss franc, euro, and yen.<\/p>\n","protected":false},"excerpt":{"rendered":" The U.S. dollar tumbled sharply on Monday, hitting multi-year lows against key global currencies, as markets were rattled by President Donald Trump\u2019s push to oust Federal Reserve Chair Jerome Powell\u2014a move that threatens to undermine the independence of the U.S. central bank. With investor confidence in U.S. monetary policy taking a fresh blow, the dollar’s …<\/p>\n","protected":false},"author":9,"featured_media":110847,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[],"class_list":["post-113862","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=113862"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113862\/revisions"}],"predecessor-version":[{"id":113863,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113862\/revisions\/113863"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/110847"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=113862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=113862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=113862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\n\n\nDollar Hits Multi-Year Lows Across the Board<\/h3>\n\n\n\n
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\n\n\n\nRisk Sentiment Falters Amid Trade Policy Uncertainty<\/h3>\n\n\n\n
\n\n\n\nChinese Yuan Rises; PBOC Holds Lending Rates<\/h3>\n\n\n\n
\n\n\n\nOutlook<\/h3>\n\n\n\n