Ammon News - The dollar dived on Monday as investor confidence in the U.S. economy took another hit over President Donald Trump's plans to shake up the Federal Reserve, which would throw into question the independence of the central bank.

White House economic adviser Kevin Hassett said on Friday that the president and his team were continuing to study whether they could fire Fed Chair Jerome Powell, just a day after Trump said Powell's termination "cannot come fast enough" as he called for the Fed to cut interest rates.

The dollar sank to a decade-low against the Swiss franc , the euro broke above $1.15 while the New Zealand dollar reclaimed the $0.6000 level for the first time in more than five months.

Against the Swiss franc , the dollar sank more than 1% to a 10-year trough of 0.80695, while the euro peaked at $1.153275, its highest level since November 2021.

The dollar also hit a seven-month low of 140.615 yen . CFTC data showed net long positions on the Japanese yen hit a record high for the week ended April 15.

Sterling was up more than 0.5% at $1.33855, its highest since October 1, while the Australian dollar scaled a four-month high of $0.6427. Reuters