Dollar wallows near 3-year low as Trump’s attacks on Fed chief unnerve traders

April 22, 2025

The dollar weakened near a three-year low as President Trump’s criticism of Fed Chair Powell undermined investor confidence. Concerns arose about potential actions to replace Powell, triggering fears of a dollar panic. Escalating trade tensions with China further fueled economic anxiety, contributing to the dollar’s decline against major currencies like the euro and Swiss franc.

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