Market News
Dollar close to multi-year lows vs euro, Swiss franc as Trump attacks the Fed - REUTERS
Summary
- Trump remarks raise concerns about Fed independence
- Safe-haven yen notched new 7-month high versus dollar
- Swiss franc near decade peak, euro close to 3-1/2-year high
- Japan sees little scope for a currency deal with the US
April 22 (Reuters) - The dollar dropped against the yen and hovered around multi-year lows versus the euro and the Swiss franc on Tuesday as President Donald Trump's attacks on the Federal Reserve raised concerns about the central bank's independence.
Analysts said the dollar was left in an especially fragile state amid market concerns over the U.S. administration’s tariffs, which could trigger a global trade war.
Doubts about Fed independence threaten the dollar's value as a reserve currency, with analysts noting possible divestments from what many consider over-exposure to U.S. assets.
