Created
: 2025.06.26
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
US Dollar Index refreshes three-year low near 97.00 as Trump attacks Fed's independence
World FX news
Breaking news
US Dollar Index refreshes three-year low near 97.00 as Trump attacks Fed's independence
New
2025.06.26 20:40
2025.06.26 20:40
2025.06.26 20:40
- The US Dollar Index slumps to near 97.00 as Trump-Powell policy tensions have dampened its safe-haven demand.
- Fed's Powell that the central bank needs more time to gauge that tariff impact on inflation before considering interest rate cuts.
- The Israel-Iran ceasefire has also diminished USD's safe-haven demand.
The US Dollar (USD) faces a sharp selling pressure on Thursday as United States (US) President Donald Trump lashed out on Federal Reserve (Fed) Chair Jerome Powell again for arguing in favor of holding interest rate cuts in the upcoming policy meetings in his semi-annual testimony before the Senate on June 24-25.
The move has led to a sharp decline in the US Dollar, sending the US Dollar Index (DXY) to near 97.00, the lowest level seen in over three years.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.34% | -0.35% | -0.55% | -0.30% | -0.37% | -0.22% | -0.36% | |
| EUR | 0.34% | 0.05% | -0.24% | 0.07% | 0.00% | 0.13% | 0.00% | |
| GBP | 0.35% | -0.05% | -0.30% | 0.02% | -0.04% | 0.10% | -0.04% | |
| JPY | 0.55% | 0.24% | 0.30% | 0.27% | 0.22% | 0.33% | 0.22% | |
| CAD | 0.30% | -0.07% | -0.02% | -0.27% | -0.05% | -0.01% | -0.06% | |
| AUD | 0.37% | -0.01% | 0.04% | -0.22% | 0.05% | 0.05% | 0.00% | |
| NZD | 0.22% | -0.13% | -0.10% | -0.33% | 0.00% | -0.05% | -0.05% | |
| CHF | 0.36% | -0.01% | 0.04% | -0.22% | 0.06% | -0.01% | 0.05% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
US President Trump called Powell "terrible" for not lowering interest rates and confirmed that he has three or four names in mind out of which he will appoint one for his replacement, Reuters reported.
Meanwhile, the Wall Street Journal reported that Powell's successor could be chosen as early as in Summer. According to the report, Trump might consider former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett. Treasury Secretary Scott Bessent is being presented to Trump by both men's associates as a possible contender. Treasury Secretary Scott Bessent is being pitched to Trump by allies of both men as a potential candidate.
Other candidates include former World Bank President David Malpass and Fed Governor Christopher Waller.
In the two-day testimony, Jerome Powell stated that the central bank is well positioned to "wait to learn more about the likely course of the economy before considering any adjustments to our policy stance". He warned that the tariff-driven inflation could prove to be "persistent" and "not a one-time increase".
This week, the US Dollar has remained on the back foot as the announcement of the ceasefire between Isreal and Iran diminished its safe-haven demand.
US Dollar FAQs
The US Dollar (USD) is the official currency of the United States of America, and the 'de facto' currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world's reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed's 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed's weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
Last updated
: 2025.06.26
Related articles
USD/CAD slides as Trump's criticism of Fed Chair Powell weighs on US Dollar
39 minutes agoEUR/JPY steadies near 169.00 as traders await the next catalyst
2025.06.27 00:34EUR/USD hits four-year high as Trump slams Powell, US data disappoints
2025.06.27 00:15Fed's Daly: We would be able to adjust rates in the fall
2025.06.26 23:57GBP/USD hits near 4-year high as Trump eyes Powell successor, Dollar sinks
2025.06.26 23:56EUR/GBP holds steady as EU-US trade deal and BoE comments drive sentiment
2025.06.26 23:22
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
USD/CAD slides as Trump's criticism of Fed Chair Powell weighs on US Dollar
The Canadian Dollar (CAD) ticks higher against the US Dollar (USD) on Thursday, buoyed by broad-based Greenback weakness following fresh criticism of Federal Reserve (Fed) Chair Jerome Powell by the US President Donald Trump.
New
2025.06.27 01:20EUR/JPY steadies near 169.00 as traders await the next catalyst
The Euro (EUR) is experiencing a modest pullback against the Japanese Yen (JPY) on Thursday, after surging over 3% this month.
New
2025.06.27 00:34EUR/USD hits four-year high as Trump slams Powell, US data disappoints
The Euro (EUR) extends its winning streak against the US Dollar (USD) for a sixth consecutive day on Thursday, with EUR/USD soaring past the 1.1700 handle for the first time since September 2021, marking a nearly four-year high.
New
2025.06.27 00:15Fed's Daly: We would be able to adjust rates in the fall
Mary Daly, President of the Federal Reserve Bank of San Francisco, indicated that she is observing growing signs that tariffs might not result in a significant or prolonged inflation increase, which could support the argument for a rate cut in the fall.
New
2025.06.26 23:57GBP/USD hits near 4-year high as Trump eyes Powell successor, Dollar sinks
The Pound Sterling advances to near four-year highs against the US Dollar on Thursday, as breaking news revealed by the Wall Street Journal (WSJ) suggests that US President Donald Trump might name Jerome Powell's successor to the Federal Reserve Chair in October and September.
New
2025.06.26 23:56Crude Oil floor drops despite war - TDS
Ironically, the floor price in crude Oil has likely declined as a result of the war.
New
2025.06.26 23:45Copper inventories are nearing critically low levels - TDS
Copper must make its way into the LME to prevent legitimate fears of a stock-out, TDS' Senior Commodity Strategist Daniel Ghali notes.
New
2025.06.26 23:40Gold's silently repricing the US Dollar - TDS
The US Dollar (USD) is partly losing its store-of-value function -- a macro theme that has already occurred many times through history. Gold is capturing a portion of that store-of-value function, TDS' Senior Commodity Strategist Daniel Ghali notes.
New
2025.06.26 23:23EUR/GBP holds steady as EU-US trade deal and BoE comments drive sentiment
The Euro (EUR) is holding steady against the British Pound (GBP) on Thursday as markets continue to monitor comments from central banks and economic resiliency.
New
2025.06.26 23:22Fed's Barkin: Tariffs won't translate evenly into the economy
Thomas Barkin, the President of the Federal Reserve Bank of Richmond, expressed caution regarding the uncertainty of how tariff increases might affect inflation in the US economy. He mentioned that recent experiences with inflation during the pandemic and its aftermath create uncertainty about how
New
2025.06.26 22:39Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
