Dollar Slumps Amid Trump's Fed Chair Attacks | JQJO

The dollar plummeted to a three-year low against major currencies on Monday, following President Trump's renewed attacks on Federal Reserve Chair Jay Powell. Gold surged to a record high, while the Swiss franc and yen strengthened. This market reaction stemmed from uncertainty surrounding US economic policy and the potential dismissal of Powell. Analysts noted a surprising bond sell-off and currency depreciation in the US, comparing the situation to emerging markets. Concerns about US stagflation and asset credibility fueled the yen's rise, with Asian markets experiencing declines.