USD/JPY flows: Federal Reserve Governor Lisa Cook Sacked

USD slumped across board on the headline that Trump has dismissed Federal Reserve Governor Lisa Cook. The concern remains on Fed's independence as it is the first time Trump actually do something, instead of verbal jabs. While there seems to be a legal reason for Trump's act, market's focus is on Trump's replacing a governor who will be tilted towards cutting rates.

USD/JPY dipped to a low of 146.98 before retracing partial losses to 147.29, still down 0.33% for the day.