U.S. Dollar Weakens Amid Speculation on Fed Chair’s Future

As U.S. President Trump considers the possibility of removing Federal Reserve Chair Jerome Powell, the U.S. dollar has weakened across the board. This has led to a rise in the Australian dollar, which increased by 0.7% to reach 0.6423, its highest level since December 12. Similarly, the New Zealand dollar broke above 0.6000 for the first time since November. Both the Australian and New Zealand markets were closed due to local holidays.