ING: Concerns over Fed independence may reignite "sell-America" trade

Odaily News According to a report by Francesco Pesole, a foreign exchange strategist at ING Bank, the US dollar faces a significant risk of decline after Federal Reserve Chair Jerome Powell stated that the Fed received a subpoena from the US Department of Justice over cost overruns in its headquarters renovation. He noted that this move has reignited market concerns about the Fed's independence and could potentially trigger a "sell-America" trade once again. Pesole said: "Any further signs of attempts to interfere with the Fed's independence would pose considerable downside risks to the dollar." (Jin10)