Author name: Editor

The U.S. dollar retreated sharply after former President Trump’s remarks about firing Federal Reserve Governor Lisa Cook, sparking concerns over the Fed’s independence. This political uncertainty weighed on the greenback and influenced key pairs: EUR/USD and GBP/USD rallied as underlying momentum strengthened, while USD/CAD and USD/JPY faced downward pressure. Our full analysis explores technical levels and macroeconomic factors driving these shifts amid ongoing market volatility.

The U.S. dollar retreated sharply after Trump’s unexpected removal of Fed Governor Lisa Cook, sparking concerns about Fed independence and potential shifts in monetary policy. EUR/USD and GBP/USD gained ground on dollar weakness, while USD/JPY and USD/CAD pulled back amid risk-off sentiment and uncertainty. Technical outlooks suggest EUR/USD may target 1.0950 resistance, GBP/USD remains bullish above 1.2550, USD/JPY faces support near 135.00, and USD/CAD is eyeing support around 1.3500. Market volatility is expected to persist as political factors continue to weigh on the dollar’s trajectory.