Institutions: Weakening Dollar Pressured by Tariff Deadline and Concerns Over Fed Independence
According to Jinse Finance, the US Dollar Index (DXY) showed sluggish performance during Monday's Asian session, mainly weighed down by concerns over US tariff policies and doubts about the Federal Reserve's independence. On Sunday, US Commerce Secretary Lighthizer explicitly stated in an interview with CBS News that August 1 is the firm deadline for the new tariffs to take effect. The Wall Street Journal also reported on the same day that US Treasury Secretary Mnuchin recently presented the pros and cons to President Trump, strongly advising him not to dismiss Federal Reserve Chairman Powell. Trump has repeatedly criticized Powell for being too cautious on interest rate cuts. FPMarkets analyst Aaron Hill pointed out that dismissing Powell would undermine the Fed's independence and have a significant impact on the US dollar and US Treasury bonds. (Jin10)
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