The U.S. dollar stays near multi-year lows against the euro and Swiss franc on Tuesday following President Donald Trump’s latest criticism of the Federal Reserve.
His calls for immediate interest rate cuts and comments targeting Fed Chair Jerome Powell have intensified concerns about the central bank’s independence.
The dollar’s performance is further impacted by ongoing trade tensions. Thailand postponed its trade talks with the U.S., which were scheduled to begin on Wednesday, adding to uncertainty in the global trade environment.
Concerns over the stability of U.S. monetary policy have led to speculation about the dollar’s long-term role as a reserve currency.
In Tuesday trading, the U.S. dollar index, which measures the greenback against six major currencies, rises 0.26% to 98.599 after falling to 97.923 in the previous session, the lowest level since March 2022. The dollar strengthens 0.57% against the Swiss franc to 0.8138, though still close to the decade-low of 0.8042. It trades at 140.820 yen after briefly dropping below the key 140 level for the first time since mid-September.
The euro slips 0.38% to $1.1467 after reaching $1.1573 on Monday, its highest since November 2021. The yen and euro have both gained around 12% against the dollar in recent months.
Meanwhile, attention remains on the conflict in Ukraine. The Kremlin said Tuesday there are currently no concrete plans for talks with Ukraine, though such discussions could take place if certain conditions are met.
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