The GBP/USD advances slightly above 1,3350 while Trump’s attacks to Powell threaten the independence of the Fed
The GBP/USD torque quotes in positive territory around 1,3370 during the first hours of the Asian session on Tuesday. The fears of a deceleration in the United States (USA) and concerns about the independence of the Federal Reserve (FED) drag the US dollar (USD) down and create a tail wind for the main torque.
The president of the United States, Donald Trump, criticized Powell of the Fed for continuing to support a way of “waiting and seeing” in monetary policy until there is greater clarity on how the new tariff policy will shape the economic perspectives. Trump warned in a social truth publication that the US economy would slower unless Powell reduced interest rates immediately. Read more…
The GBP/USD shoots around 1.34 while operators question the independence of the Fed
The sterling pound (GBP) shoots more than 0.70% on Monday, since investors became distrustful of the US policies responsible (USA) after the Economic Advisor of the White House, Kevin Hassett, affirmed that President Donald Trump is looking for ways to dismiss the president of the Federal Reserve (Fed), Jerome Powell. Consequently, the operators penalize the dollar, pushing the GBP/USD near the 1,3400 figure.
The feeling of the market became negative as Washington again threatened the independence of the Fed. US shares are falling, while the US dollar index (DXY), which reflects the value of the dollar against a basket of six currencies, including the pound, collapses more than 1.09% to 98.31, levels not seen since March 2022.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
