Trump’s move to fire Fed Governor Lisa Cook via social media sent the U.S. dollar tumbling, with gold surging above USD 3,385 and safe-haven flows boosting JPY and CHF. The legality of the firing was quickly questioned, fuelling concerns over Fed independence and adding to pressure on the dollar.
Japan finance minister Kato: Alarmed over FX moves, including those driven by speculatorsRBA August minutes: Some further reduction in cash rate likely to be needed in coming yearICYMI - The USD has been smashed lower on the news that Trump has fired Fed Governor CookPBOC sets USD/ CNY reference rate for today at 7.1188 (vs. estimate at 7.1670)Trump threatens tariffs on countries with digital taxesSenior Chinese trade negotiator heads to Washington for first round of talksGold, yen, EUR, CHF all continue to move higher as the US dollar gets Trump-trashedThe USD has been slammed lower on the news of Trump moving to fire Fed Governor CookTrump says he is removing Fed Governor CookJapanese Services PPI (July 2025) +2.9% y/y (expected +3.2%)US secures $50B Boeing & GE Aerospace deal with Korean AirFed's Williams does not comment on monetary policy outlook in his speechUK shop prices jump most since March 2024, fuelling Bank of England inflation fearsUBS calls Fed easing from September, boosting equities outlookSmall packages, big problem: global post grinds to a halt on U.S. tariff rule.Interactive Brokers will replace Walgreens Boots Alliance in the S&P 500Heads up: French government faces collapse as Bayrou risks budget confidence vote (Sept 8)ICYMI - Barclays sees two Fed cuts in 2025, warns of 50% U.S. recession risk under TrumpBitcoin - the struggle continues (back under US$110K)investingLive Americas FX news wrap 25 Aug:The USD moved steadily higher in the US sessionNew York Fed President John Williams is speaking Monday evening, US timeDallas Fed President Lorie Logan doesn't drop any clues on a September interest rate cutUS stocks close lower. S&P and Dow stay in negative territory. Nasdaq loses gainsTrump says he thinks a deal has been done with South KoreaTrump posted a letter on his social media platform announcing the firing of Federal Reserve Governor Lisa Cook, a move that sent the dollar plunging and gold surging above USD 3,385. His attempt to oust Cook undercut the USD on two fronts: by signalling his desire to stack the Fed with loyalists to force rate cuts, and by undermining confidence in the Bank’s independence.
The dollar weakened broadly, with gold the standout gainer and safe-haven flows into JPY and CHF driving USD/JPY down to 147.00 and USD/CHF to 0.8030. EUR, GBP, AUD, and NZD also advanced. The dollar later clawed back some ground, though mainly as modest retracement.
Legal questions quickly followed Trump’s post, with debate over whether he has the authority to dismiss a Fed governor at all. Powell could set a precedent by insisting Cook remain during the challenge, while some suggested a middle ground of her staying on but not voting until the courts decide. More cynical takes held that Trump’s social media theatrics were designed to stir dollar and gold moves for the benefit/profit of his circle.
Other developments were overshadowed by the firing saga. New York Fed President John Williams spoke but offered no policy outlook, while RBA minutes read as less hawkish than expected. Trump threatened countries that have digital taxes with ‘subsequent additional tariffs’ on their goods if those nations do not remove such legislation.
This article was written by Eamonn Sheridan at investinglive.com.Hence then, the article about investinglive asia pacific fx news wrap trump moves to fire cook gold jumps was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( investingLive Asia-Pacific FX news wrap: Trump moves to fire Cook, gold jumps )
Also on site :
- Denver Fire Department responds to 3-alarm fire at intersection of Leetsdale Drive and S. Forest Street
- Trial to begin for police officer charged in delayed response to Uvalde school shooting
- China’s special envoy meets Maduro (VIDEO)