US President Trump says new Fed Chair should support interest rate cuts - Politico

Sagar Dua FXStreet

United States (US) President Donald Trump criticizes Federal Reserve (Fed) Chair Jerome Powell, in an interview with Politico during the European trading session on Tuesday, for not reducing interest rates, calling him "not a smart person". Trump also talked about the current status of truce discussions with Russia and Ukraine.

Additional remarks

Would make support for immediately slashing interest rates as a litmus test in the choice of a new Fed chair (well, duh).

Ukraine hasn't had an election in a long time.

No question Russia has a stronger position.

On Ukraine: Europe is not handling it well.

Europe nations are 'decaying, leaders are 'weak'.

Trump denies pledging a bailout for Hungary.

Trump may make tariff changes to lower some prices.

Trump declined to rule out troops in Venezuela.

Could extend anti-drug military operations to Mexico and Colombia.

Market reaction

US President Trump's comments seem ineffective on the US Dollar (USD). The US Dollar Index (DXY) remains steady around 99.00 as of writing.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.02%	-0.02%	0.11%	-0.10%	-0.19%	-0.23%	-0.02%
EUR	0.02%		-0.00%	0.13%	-0.07%	-0.16%	-0.18%	-0.00%
GBP	0.02%	0.00%		0.17%	-0.07%	-0.16%	-0.18%	0.00%
JPY	-0.11%	-0.13%	-0.17%		-0.22%	-0.31%	-0.34%	-0.15%
CAD	0.10%	0.07%	0.07%	0.22%		-0.09%	-0.12%	0.07%
AUD	0.19%	0.16%	0.16%	0.31%	0.09%		-0.02%	0.16%
NZD	0.23%	0.18%	0.18%	0.34%	0.12%	0.02%		0.18%
CHF	0.02%	0.00%	-0.00%	0.15%	-0.07%	-0.16%	-0.18%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

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