MARKET NEWS
Dollar Falls to Three-Year Low, Could Extend Losses as Pressure for Rate Cuts Grows - BARRON'S
Renae Dyer
The U.S. dollar is at risk of further losses as the Federal Reserve faces mounting political pressure to cut interest rates, analysts said.
The dollar hit a three-year low against a basket of currencies after The Wall Street Journal reported that President Trump is considering naming his selection to replace Fed Chair Jerome Powell well ahead of his term ending in 11 months’ time, a mark of his frustration over Powell’s resistance to lower rates.
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