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Home News

Euro Climbs as Trump Fed Remarks Boost Rate-Cut Bets

by Christopher Yarborough
June 30, 2025
in News
Euro Climbs as Trump Fed Remarks Boost Rate-Cut Bets
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The euro maintained its sixth consecutive rise on Thursday while staying close to 1.1700 because the dollar experienced weakness due to expectations about Donald Trump announcing a new Federal Reserve Chair Jerome Powell replacement.

The Wall Street Journal indicated Trump plans to reveal his Federal Reserve Chair selection between September and October before Powell’s term ends in May 2025. The news caused market instability while raising doubts about Fed independence which led to significant increases in rate-cut predictions.

The Wall Street Journal reported that Trump has multiple candidates in mind for the Federal Reserve Chair position including Treasury Secretary Scott Bessent and economist Kevin Warsh. The president launched fresh attacks against Powell after the Fed chief maintained his cautious monetary policy stance during congressional testimony.

The CME FedWatch tool indicates traders now predict a 24% chance of a July rate cut after the probability increased from 14% during the previous week. The probability of a September rate cut increased to 90% from its previous level of 65%.

The Fed faces increasing pressure while dealing with conflicting economic indicators and internal disagreements which makes the dollar susceptible to market fluctuations. The euro’s price increase demonstrates investor doubts about U.S. monetary policy stability during the second half of 2025.

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