Dollar Delves into Descent Amid Fed Uncertainty

The U.S. dollar has plunged to its lowest levels in over three years, reflecting growing investor concerns about the Federal Reserve's independence. Recent remarks by President Donald Trump criticizing Fed Chair Jerome Powell have amplified these anxieties.

Trump's speculative comments about potential candidates to replace Powell have exacerbated fears of Fed manipulation. Hopes for an independent monetary policy further dwindled after Trump's latest attacks. As a result, the dollar continues to weaken against major currencies.

Investor uncertainty is being compounded by speculation of imminent interest rate cuts. A looming July 9 trade agreement deadline and ongoing geopolitical tensions also weigh heavily, perpetuating the dollar's decline and prompting questions about the U.S. political landscape.

(With inputs from agencies.)