
Investors sold the dollar on June 26, 2025 as concerns grew about the independence of the Federal Reserve. Commentary focused on the upcoming selection of a new Fed chair.
The article describes the dollar's weakness as tied to doubts about US institutions.
Doubts about Fed independence can push the dollar lower and raise inflation expectations, which tends to support dollar-priced commodities. Feed importers face higher local-currency costs when the dollar weakens against their currencies.
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.