A Supreme Court ruling this week on President Trump's attempt to fire Federal Reserve governor Lisa Cook poses a potential headwind to the dollar, ING's Francesco Pesole says in a note. If the ruling supports Trump's bid, that could "reignite some Fed independence concerns which could weigh substantially on a dollar," he says. However, in January justices signaled skepticism over Trump's claim that he could immediately remove Cook on allegations of mortgage fraud. The DXY dollar index falls 0.1% to 101.241.(renae.dyer@wsj.com)
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Dollar Faces Hit if Supreme Court Ruling Reignites Fed Independence Concerns — Market Talk
A Supreme Court ruling this week on President Trump's attempt to fire Federal Reserve governor Lisa Cook poses a potential headwind to the dollar, ING's Francesco Pesole says in a note. If the ruling supports Trump's bid, that could "reignite some Fed independence concerns which could weigh substan…