Trump is moving to fire Federal Reserve Governor Cook. Cook has been under pressure for about a week to resign, Trump escalating the matter now.
The USD is taking a hit both on the prospoect of this increasing increasing the probability of a Federal Open Market Committee (FOMC) rate cut in September, and also on the prospect of Trump shifting the US to non-independent monetary policy status. Ergodan in Turkey tried this, seeking to impose his monetary policy will on its central bank, sending the TRY (Turkish Lira) into a collapse. While the US is likely to be more resilient, at the margin this is not a positive for the US dollar.
Gold has rocketed
This article was written by Eamonn Sheridan at investinglive.com.