Dollar Retreats and Precious Metals Surge to Record Highs

The dollar is also under pressure as the Fed boosts liquidity in the financial system, having begun purchasing $40 billion a month in T-bills in mid-December. The dollar is also being undercut by concerns that President Trump intends to appoint a dovish Fed Chair, which would be bearish for the dollar. Last Friday, Mr. Trump said that he would announce his selection for the new Fed Chair within the next few weeks.The dollar continues to see underlying weakness as the FOMC is expected to cut interest rates b ...