The Wall Street Journal wasn't reticent with its headline:
Trump Considers Naming Next Fed Chair Early in Bid to Undermine Powell(gated)
I popped a summary of the piece here ICYMI:
Wall Street Journal: Trump considers naming next Fed chair early - bid to undermine PowellIts been nearly one-way traffic, lower, for the USD since:
USD falling away a little on the Trump " bid to undermine Fed Chair Powell" WSJ reportUS dollar still dribbling lower. ICYMI WSJ: Trump undermining Federal Reserve Chair PowellWhile this is the catalyst on the session its not as if it's the only news on the dollar
JP Morgan expects the USD dollar index, DXY, to fall by 5.7% in the next 12 monthswhich has been falling pretty much all year. Its lost around 10% in H1, its worst performance in 4 decades.
EUR/USD is hitting highs not seen since late 2021:
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