The Federal Reserve "ignores" Trump's victory and lowers interest rates as scheduled, with the dollar giving back its post-election gains, marking the largest decline since August
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The US dollar recorded its largest decline since August after Trump won the US presidential election, as the Federal Reserve cut interest rates as expected and did not change market expectations for further rate cuts. The dollar index fell by 0.8%, mainly influenced by a significant drop in US Treasury yields. Federal Reserve Chairman Powell stated that the election results had no impact on the Fed's decisions. The strengthening of the British pound and Australian dollar also put pressure on the US dollar. There remains uncertainty in the market regarding expectations for Trump's policies
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