Dollar hits three-year low as Trump criticizes Fed Chair Powell, causing U.S. stocks to plummet

From Yahoo Finance: 2025-04-20 20:45:00

The dollar hit a three-year low due to Trump’s criticism of Fed Chair Powell, dropping to 97.923 against a basket of currencies. Trump demanded lower interest rates, causing U.S. stocks to plummet over 2%. White House economic adviser hinted at firing Powell, while the dollar reached lows against the Swiss franc and euro. Markets globally closed for holidays, with the dollar also falling against the yen. Sterling and Australian dollar rose, reflecting market uncertainty and impact of Trump’s tariffs. China kept lending rates steady amid escalating trade war with the U.S. Yuan rose before retreating.



Read more at Yahoo Finance: Dollar hits three-year low as Trump attacks threaten Fed’s independence