Analysts: The dollar is taking a double hit
2025-08-26 00:40:10
Trump is moving to sack Governor Tim Cook, who has been under pressure to resign for almost a week, and Trump is now escalating the matter. Eamonn Sheridan, a currency analyst, says the dollar is being hit by a double whammy: because it increases the likelihood that the FOMC will cut interest rates in September; and because Trump could push the US into a state of non-independent monetary policy. Turkey's Erdogan tried to intervene in its central bank to force his own monetary policy, causing the lira to collapse at one point. While the US economy may be more resilient, that is not good for the dollar at the margin. Gold prices have already surged.
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