Created
: 2025.07.22
- 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
Forex Today: US Dollar struggles to recover as Trump-Powell feud escalates
World FX news
Breaking news
Forex Today: US Dollar struggles to recover as Trump-Powell feud escalates
New
2025.07.22 16:41
2025.07.22 16:41
2025.07.22 16:41
Here is what you need to know on Tuesday, July 22:
The US Dollar (USD) started the week under pressure and registered large losses against its major rivals on Monday. Although the USD holds its ground early Tuesday, investors refrain from positioning themselves for a steady recovery, while keeping a close eye on headlines surrounding the ongoing feud between United States (US) President Donald Trump and Federal Reserve (Fed) Chairman Jerome Powell.
US Dollar PRICE This week
The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the weakest against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.50% | -0.38% | -0.06% | -0.18% | 0.06% | 0.48% | -0.36% | |
| EUR | 0.50% | 0.20% | 0.45% | 0.30% | 0.53% | 0.81% | 0.10% | |
| GBP | 0.38% | -0.20% | 0.04% | 0.16% | 0.36% | 0.82% | 0.10% | |
| JPY | 0.06% | -0.45% | -0.04% | -0.10% | 0.17% | 0.50% | -0.13% | |
| CAD | 0.18% | -0.30% | -0.16% | 0.10% | 0.30% | 0.66% | -0.23% | |
| AUD | -0.06% | -0.53% | -0.36% | -0.17% | -0.30% | 0.35% | -0.29% | |
| NZD | -0.48% | -0.81% | -0.82% | -0.50% | -0.66% | -0.35% | -0.72% | |
| CHF | 0.36% | -0.10% | -0.10% | 0.13% | 0.23% | 0.29% | 0.72% |
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).
Citing a letter sent to the Department of Justice (DoJ), Fox News reported late Monday that Representative Anna Paulina Luna has referred Fed Chairman Jerome Powell to the DoJ for criminal charges, accusing him of perjury on two occasions. Earlier in the day, Treasury Secretary Scott Bessent told CNBC that they need to review the entire Fed institution and its performance, citing the Fed's "fear-mongering over tariffs" amid a lack of significant signs of inflation as justification. The USD Index lost more than 0.6% on Monday and erased almost all the gains it registered in the previous week. Early Tuesday, the USD Index fluctuates in a tight channel at around 98.00. Meanwhile, US stock index futures trade flat after Wall Street's main indexes closed mixed on Monday.
The US economic calendar will feature Richmond Fed Manufacturing Index for July later in the day. Fed Chairman Jerome Powell and Fed Vice Chair for Supervision Michelle Bowman are scheduled to speak during the American trading hours. Since the Fed is in the blackout period, however, they are unlikely to comment on the monetary policy outlook.
EUR/USD stays in a consolidation phase slightly below 1.1700 after posting strong gains on Monday. The European Central Bank (ECB) will publish the Bank Lending Survey in the European session.
The Reserve Bank of Australia (RBA) published the Minutes of its July monetary policy meeting on Tuesday, highlighting that the board agreed further rate cuts warranted over time and focus was on timing and extent of easing. After closing in positive territory on Monday, AUD/USD corrects lower and trades at around 0.6500 in the European morning on Tuesday.
Japan's top trade negotiator, Ryosei Akazawa, said on Tuesday that he met US Commerce Secretary Howard Lutnick for two hours in Washington on Monday, seeking an agreement benefiting both Japan and the US. Following Monday's sharp decline, USD/JPY recovers toward 148.00 early Tuesday.
GBP/USD benefited from the broad-based USD weakness and rose abut 0.6% on Monday. The pair edges lower but holds above 1.3450 in the European session on Tuesday.
Gold gathered bullish momentum and gained more than 1% on Monday to touch its strongest level in a month. After coming within a touching distance of $3,400, XAU/USD stages a technical correction and declines toward $3,380 in the European morning.
Fed FAQs
Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed's 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.
The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials - the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.
In extreme situations, the Federal Reserve may resort to a policy named 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 during crises or when inflation is extremely low. It was the Fed's weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.
Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
Last updated
: 2025.07.22
Related articles
The US Dollar Index treads water below 98.00
8 minutes agoUSD/CAD approaches multi-week lows at 1.3670 amid growing trade uncertainty
2025.07.22 20:46USD/JPY is consolidating recovery from range low - Scotiabank
2025.07.22 20:29GBP: Markets look through BoE Gov. Bailey comments on debt & curve - Scotiabank
2025.07.22 20:26EUR is well supported for the time being - Scotiabank
2025.07.22 20:25CAD stead to slightly firmer on USD - Scotiabank
2025.07.22 20:20
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
The US Dollar Index treads water below 98.00
The Greenback, when tracked by the US Dollar Index (DXY), alternates gains with losses in the lower end of the weekly range below the 98.00 support amid another day of generalised weakness in US yields.
New
2025.07.22 21:53Saudi Arabia exported more crude Oil and Oil products in May - Commerzbank
Saudi Arabia exported just under 6.2 million barrels of crude Oil per day in May, according to data from the Joint Official Data Initiative (JODI), Commerzbank's commodity analyst Carsten Fritsch notes.
New
2025.07.22 21:19China imports significantly more (Iranian) Oil from Malaysia - Commerzbank
China published detailed data on crude Oil imports in June on Monday. Of the total 49.9 million tons, Russia accounted for 8.35 million tons and Saudi Arabia for 7.9 million tons, Commerzbank's commodity analyst Carsten Fritsch notes.
New
2025.07.22 21:17Gold stalls despite elevated trade tensions and rising concerns over Fed independence
Gold (XAU/USD) is edging lower after a sharp rally on Monday. Trade tensions and concerns about the Federal Reserve's (Fed) independence continue to lend support through safe-haven demand.
New
2025.07.22 21:14Gold Price Forecast: XAU/USD strives to break above $3,400 amid US-EU trade tensions
Gold price (XAU/USD) ticks down to near $3,385 during the European trading session on Tuesday. Still, the precious metal trades close to an over-a-month high around $3,400. The yellow metal is broadly firm as trade tensions between the United States (US) and the European Union (EU) have escalated.
New
2025.07.22 20:53USD/CAD approaches multi-week lows at 1.3670 amid growing trade uncertainty
Later
New
2025.07.22 20:46USD/JPY is consolidating recovery from range low - Scotiabank
The Japanese Yen (JPY) is also trading flat against the US Dollar (USD) and consolidating its recent recovery from the lower end of its recent range, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.07.22 20:29GBP: Markets look through BoE Gov. Bailey comments on debt & curve - Scotiabank
The Pound Sterling (GBP) is entering Tuesday's NA session flat against the US Dollar (USD) and also showing its first signs of meaningful strength following the pullback from its July 1 high, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.07.22 20:26EUR is well supported for the time being - Scotiabank
The Euro (EUR) is up marginally against the US Dollar (USD) and looking well supported as it seeks to extend its latest recovery following the pullback from its July 1 high, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.07.22 20:25Contradictory signals on the Platinum market - Commerzbank
The largest Palladium producer from Russia has slightly lowered its production forecast for Palladium this year, Commerzbank's commodity analyst Carsten Fritsch notes.
New
2025.07.22 20:22Disclaimer:
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
