Washington: The US dollar experienced a significant rise against major currencies after US President Donald Trump decided to withdraw his threats to dismiss Federal Reserve Chairperson Jerome Powell. Powell had been under intense scrutiny for his decision not to reduce interest rates, which had led to mounting criticism over recent days.
According to Qatar News Agency, the dollar’s surge was noticeable in early Wednesday Asian trading, climbing 0.75% to 142.68 against the yen and 0.7% to 0.8249 against the Swiss franc. The euro saw a decline, dropping 0.49% to 1.1363.
In other currency movements, the British pound decreased by 0.39% to 1.3281. The Australian dollar saw an increase of 0.3% to 0.6385, while the New Zealand dollar inched up by 0.11% to 0.597.