{"id":35561,"date":"2025-04-22T11:58:54","date_gmt":"2025-04-22T11:58:54","guid":{"rendered":"https:\/\/onequity.com\/dollar-is-close-to-its-lowest-level-in-three-years-the-dispute-between-trump-and-powell-weighs-on-the-markets\/"},"modified":"2025-04-22T11:58:54","modified_gmt":"2025-04-22T11:58:54","slug":"dollar-is-close-to-its-lowest-level-in-three-years-the-dispute-between-trump-and-powell-weighs-on-the-markets","status":"publish","type":"post","link":"https:\/\/insights.onequity.com\/es\/dollar-is-close-to-its-lowest-level-in-three-years-the-dispute-between-trump-and-powell-weighs-on-the-markets\/","title":{"rendered":"Dollar Nears Three-Year Low as Trump\u2013Powell Dispute Weighs on Markets"},"content":{"rendered":"\n<p>The U.S. dollar saw a modest rebound on Tuesday, though it remained near its lowest level in over three years following fresh criticism of Federal Reserve Chair Jerome Powell by President Donald Trump. At 04:45 ET (08:45 GMT), the U.S. <a href=\"https:\/\/hub.onequity.com\/education\/19\/12\/2024\/understanding-the-dxy-index-a-key-to-forex-and-global-market-insights\/\">Dollar Index<\/a>\u2014which tracks the greenback against a basket of six major <a href=\"https:\/\/hub.onequity.com\/education\/14\/06\/2024\/unlocking-the-global-currency-market-a-beginners-guide-to-forex\/\">currencies<\/a>\u2014rose 0.2% to 98.190, recovering slightly after falling to levels last seen in March 2022 during the prior session.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Fed Independence Under Scrutiny<\/strong><\/h2>\n\n\n\n<p>Investor concerns over the independence of the Federal Reserve intensified after Trump publicly rebuked Powell for not cutting interest rates aggressively enough, signaling a desire to replace the Fed chief. This political pressure threatens one of the fundamental pillars of the dollar&#8217;s strength: an autonomous central bank committed to inflation control.<\/p>\n\n\n\n<p>The dollar has been under persistent strain since the onset of Trump\u2019s trade war, which introduced sweeping tariffs on key U.S. trading partners. These policies have undermined investor confidence in the U.S. economy and weakened the perception of American economic leadership.<\/p>\n\n\n\n<p>Powell, in a speech last week, reiterated a cautious stance, emphasizing that the Fed can afford to be patient in assessing policy moves and that rate cuts are not imminent unless it becomes clear that tariffs won\u2019t trigger sustained inflationary pressures.<\/p>\n\n\n\n<p>\u201cPresident Trump is intensifying pressure on Federal Reserve Chair Jerome Powell to cut rates \u2018now,\u2019 threatening one of the foundations of the dollar\u2019s appeal as a global reserve currency: an independent and inflation-responsible central bank,\u201d analysts at ING said in a note. \u201cAt the same time, many are speculating that Trump is looking to blame the Fed for the upcoming economic slowdown\u2014an implicit acknowledgment by the administration of growing recession fears.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Euro Holds Firm Near Three-Year High<\/strong><\/h2>\n\n\n\n<p>In Europe, the euro dipped slightly against the dollar, with EUR\/USD down 0.1% to 1.1500 after hitting its highest level in over three years during the previous session. The euro\u2019s recent strength comes despite the European Central Bank\u2019s decision to cut interest rates by 25 basis points last week in an effort to shore up a struggling eurozone economy, which is also bracing for the negative impact of U.S. tariffs.<\/p>\n\n\n\n<p>Analysts suggest that the euro\u2019s gains are being driven less by regional fundamentals and more by outflows from the dollar amid concerns over U.S. monetary policy.<\/p>\n\n\n\n<p>\u201cIt is evident that the euro\u2019s fundamental impact on another significant EUR\/USD rally would be minimal, as it would primarily benefit from liquidity-seeking flows departing USD assets due to its reserve value,\u201d ING noted. \u201cIn other words, a move to 1.20 would be driven entirely by USD factors.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Pound Advances After Inflation-Driven Repricing<\/strong><\/h2>\n\n\n\n<p>GBP\/USD edged up to 1.3375, continuing its upward momentum after touching 1.3421\u2014its highest level since September\u2014at the start of the week. The British pound has been supported by the Bank of England\u2019s decision to keep interest rates steady at 4.5% in March. However, softer-than-expected inflation data has fueled speculation that a rate cut could be on the table as early as May.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Yen Strengthens as Safe-Haven Demand Rises<\/strong><\/h2>\n\n\n\n<p>In Asia, the Japanese yen gained ground, with USD\/JPY falling 0.2% to 140.51 after briefly dipping below the psychologically important 140.00 level for the first time since mid-September.<\/p>\n\n\n\n<p>\u201cThe yen is the biggest winner in this latest round of USD selling, as it responds to both the equity slump and the risks to Fed independence,\u201d ING analysts stated. \u201cGiven the broad attractiveness of the yen as a safe-haven substitute, we don\u2019t see conditions for an immediate reversal of this move.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Chinese Yuan Firms Despite Trade Tensions<\/strong><\/h2>\n\n\n\n<p>USD\/CNY rose 0.3% to 7.3138, even as the People\u2019s Bank of China (PBoC) set the yuan\u2019s daily midpoint significantly stronger than expected on Monday. The move suggests Beijing is attempting to stabilize the currency amid mounting economic and geopolitical uncertainty.<\/p>\n\n\n\n<p>On Monday, China issued a pointed warning to countries considering trade deals with the U.S. that might harm Chinese interests. The Chinese Ministry of Commerce accused Washington of using tariffs and monetary pressure to force nations into limiting trade with China. The warning comes as tensions in the U.S.\u2013China trade conflict escalate, with the U.S. recently imposing tariffs of up to 145% on certain Chinese imports, prompting retaliatory duties from Beijing. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. dollar saw a modest rebound on Tuesday, though it remained near its lowest level in over three years following fresh criticism of Federal Reserve Chair Jerome Powell by President Donald Trump. At 04:45 ET (08:45 GMT), the U.S. Dollar Index\u2014which tracks the greenback against a basket of six major currencies\u2014rose 0.2% to 98.190, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,273],"tags":[289,282,283,290],"class_list":["post-35561","post","type-post","status-publish","format-standard","hentry","category-markets","category-currencies","tag-currencies-es","tag-dollar-es","tag-euro-es","tag-yuan-es"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dollar Nears Three-Year Low as Trump\u2013Powell Dispute Weighs on Markets - OnEquity<\/title>\n<meta name=\"description\" content=\"The U.S. dollar hovers near a 3-year low amid Trump-Powell tensions, Fed concerns, and global currency shifts in major economies.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar Nears Three-Year Low as Trump\u2013Powell Dispute Weighs on Markets - 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