SINGAPORE (Reuters) -U.S. President Donald Trump on Monday took the unprecedented action of firing Lisa Cook, the first African-American woman to serve as a Federal Reserve governor, over claims of mortgage borrowing impropriety.

The U.S. dollar softened across the board after the news.

COMMENTS:

TONY SYCAMORE, MARKET ANALYST, IG, SYDNEY:

“Trump’s removal of Cook, following his relentless pressure on Fed Chair Jerome Powell that saw the Fed Chair buckle last week, reignites questions around the Fed’s independence and further undermines its ability to maintain impartial monetary policy free from political influence.”

CHRISTOPHER WONG, CURRENCY STRATEGIST, OCBC, SINGAPORE:

“The move is another example of concerns over the Fed’s independence weighing on the dollar and has implications f

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