The US dollar is recovering from recent losses on Wednesday, with the dollar index against a basket of currencies rising 0.4% to 98.487. Support is limited by doubts about the Fed's independence after Donald Trump's attempt to oust board member Lisa Cook. She stated that the president does not have the authority to dismiss her, which threatens litigation. Analysts note that the politicization of the Fed may weaken the dollar in the future, but the short-term risks are limited, as Powell's leadership remains. The euro is declining: the EUR/USD pair lost 0.5% to 1.1586. The pressure is related to political uncertainty in France (Prime Minister Francois Bayrou may lose a vote of confidence on September 8) and a deterioration in consumer sentiment in Germany (the GfK index fell to -23.6). The pound is trading at 1.3445 (-0.3%), but is receiving support from the Bank of England's tough stance. Experts believe that the breakdown of the 1.35 level is only a matter of time. The Australian dollar fell 0.3% to 0.6471, despite inflation rising to 2.8% in July (above the forecast of 2.3%). The price spike is associated with an increase in electricity tariffs. The RBA protocol signals readiness for further rate cuts, but the new data complicate the regulator's task.
QUICK LINKS
Contact Us 
