Euro falls against the dollar for the fifth consecutive session

At 18:00 Lisbon time, the euro was trading at 1.1423 dollars, down from 1.1475 dollars the previous day at the same time.

However, the euro rose against the pound and the yen.

The European Central Bank (ECB) set the reference exchange rate for the euro at 1.1446 dollars.

U.S. President Donald Trump today criticized Federal Reserve Chairman Jerome Powell, calling him “too stupid and political” for the position.

In a post on his social media platform Truth Social, Trump attacked Powell, derogatorily referring to him as “Jerome ‘Tardón’ Powell.”

“He arrives too late, and actually, he’s too angry, stupid, and political to be in charge of the Fed,” the statement read.

The Fed decided to keep interest rates unchanged on Wednesday, amid uncertainty about the impact of U.S. tariffs on the national economy.

The central bank’s reference rates remained in the 4.25%-4.5% range.

In a press conference, Powell defended the importance of central bank independence from governments, a stance underlined by Trump’s critiques.

According to Powell, explaining the Fed’s decision to maintain interest rates, “having an independent central bank is an institutional arrangement that has served the public well. And as long as it continues to do so, it should be respected,” he noted, in response to whether Trump’s pressure to cut rates might affect the institution’s independence.

Currencies…………..Today…………..Wednesday

Euro/Dollar…………..1.1423…………..1.1475

Euro/Pound…………..0.86393…………0.86387

Euro/Yen……………..172.12…………….170.90

Dollar/Yen…………..150.69…………….148.93