'Sell America' trade: Dollar drops, gold surges as Trump's Fed pressure campaign raises fears about U.S. system
CNBC·2026-01-12 17:09
In this article@GC.1.DXYwatch nowStock Chart IconStock chart iconGold COMEX, all-timeJPMorgan's trading team also highlighted "Sell America" as a major driver for the market on Monday. Beyond the Powell investigation, the desk pointed out that oral arguments at the Supreme Court are scheduled for the case on whether Trump can fire Fed Governor Lisa Cook later this month. On top of that, bank stocks dropped after Trump called for a one-year credit card interest rate cap at 10%."Combined, the 'Sell America' t ...