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Dollar Drops after Trump Fires Fed’s CookSingapore, 26 Aug (ONA) — The US dollar today surrendered gains in early trading in Asia after US President Donald Trump said he was removing Federal Reserve Governor Lisa Cook from her position.
The dollar index fell 0.3% to 98.187 after Trump made the announcement in a letter to Cook that he posted on social media.
The euro tacked on 0.2% in Asia, last fetching $1.1650, while sterling traded at $1.3483, up 0.2% so far on the day.
Against the yen, the dollar was traded at 147.18 yen, 0.4% stronger compared to late US levels.
The Australian dollar fetched $0.64915, up 0.15% in early trade.— Ends/Khalid
