Trump eyes Powell's exit - dollar drops 0.7% as traders brace for chaos
Key Points
- Political pressure on Jerome Powell sent the dollar down 0.7...
When the President starts eyeing your job, you know it's not going to be a quiet Tuesday. Jerome Powell found himself in the crosshairs again as Trump speculation sent the dollar tumbling 0.7% against major currencies on July 16th, while Treasury yields jumped to 5.06% - because nothing says "confidence" like a 5-basis-point spike in borrowing costs.
The market's reaction was swift and predictable: sell dollars, buy chaos. Long-dated Treasury yields shot up faster than a trader's blood pressure during earnings season, with the 30-year bond hitting 5.06%. It's almost as if investors don't love...
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