Institution: The US dollar is weak, facing dual pressure from tariff deadlines and concerns over the independence of the Federal Reserve

ChainCatcher news, according to Jinshi reports, the US Dollar Index DXY showed a sluggish performance during the Asian session on Monday, mainly dragged down by concerns over US tariff policies and the independence of the Federal Reserve.

US Secretary of Commerce Wilbur Ross clearly stated on Sunday to CBS News that August 1 is the hard deadline for the new tariffs to take effect.

The Wall Street Journal also reported that US Treasury Secretary Steven Mnuchin recently presented the stakes to President Trump, strongly advising him not to dismiss Federal Reserve Chairman Jerome Powell. Trump has repeatedly criticized Powell for being too cautious regarding interest rate cuts.

FP Markets analyst Aaron Hill pointed out that firing Powell would undermine the independence of the Federal Reserve, causing significant impacts on the US dollar and US Treasury bonds.