Tag: dollar
US stocks and dollar plunge as Trump attacks Fed chair Powell
US stocks and the dollar plunged again as President Donald Trump intensified his attacks on the US central bank boss calling him “a major loser” for not lowering interest rates. In a social media post, Trump called on Federal Reserve chair Jerome Powell to cut interest rates “pre-emptively” to help boost the economy, saying Powell…
Falling Australian dollar spells bad news for travellers and shoppers
The value of one Australian dollar dropped to a low of 59.64 US cents, its lowest point since April 2020 Consumers and travellers will face higher prices after the Australian dollar fell to Covid-era lows, as markets reel from Donald Trump’s “liberation day” tariff plan. Fears of a global recession dragged the Australian dollar sharply…