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The dollar fell against major currencies after President Trump moved to fire Federal Reserve Governor Lisa Cook over alleged mortgage improprieties, which Cook disputes. The dollar index was down 0.28% near 98.19 as investors weighed the move's implications for Fed independence.
Concerns about Fed independence and a possibly more dovish Fed weigh on the dollar, a factor that can support dollar-priced grain and oilseed markets.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
