The USD/CHF pair remained depressed for the fourth consecutive day and touched a fresh low since September 2011, around the 0.8025 region during the Asian session on Thursday (6/26). The US Dollar (USD) selling bias remained unabated amid concerns about the future independence of the Federal Reserve (Fed), which in turn, was seen as a key factor weighing on the USD/CHF pair. US President Donald Trump stepped up his criticism of Fed Chairman Jerome Powell for not cutting interest rates, calling him a "bad guy". Trump also floated the idea of firing Powell and said that he is considering...
Silver (XAG/USD) price attracted some buyers around $36.35 during the early European session on Thursday (6/26), supported by a weaker US Dollar (USD). Traders will take more cues from the final US Q1 GDP Growth Rate and Fed speeches due later on Thursday. The greenback faced some selling pressure amid concerns about the future independence of the US Federal Reserve (Fed). This, in turn, provided some support to the USD-denominated commodity, as a weaker USD makes Silver cheaper for foreign buyers. US President Donald Trump said that he will pick a replacement for Fed Chair Jerome Powell in...
The US Dollar is trading lower for the sixth consecutive day on Thursday, as Trump's attacks on Fed Chairman Jerome Powell have undermined confidence in the US central bank and revived the "Sell America" trade. The USD Index (DXY), which measures the value of the Dollar against the most traded currencies, is nearly 2% lower this week, at the lower range of the 97.00s for the first time since March 2022. President Trump reacted with anger to Powell´s testimony to Congress, calling him names and suggesting that he might announce the name of his replacement as soon as September or October....