The dollar fell due to concerns about the independence of The Federal Reserve (FED) and the deficit.

Jin10 data June 30 report, the US dollar fell due to concerns about the independence of The Federal Reserve (FED) and US government debt. President Trump told Fox News that interest rates should be reduced to 1% or 2%. He stated that the next chair of The Federal Reserve (FED) should be anyone but the current chair Powell. Pepperstone analyst Michael Brown noted in a report: “The weakening of monetary policy independence means that the US dollar should continue to decline slowly but surely in the medium term.” Meanwhile, the US Congressional Budget Office indicated that from 2025 to 2034, Trump’s tax and spending proposals could increase the deficit by nearly $3.3 trillion.