Dollar Drops 1.1% as Trump Criticizes Federal Reserve Chair

U.S. dollar decline and market volatility followed President Trump's criticism of Federal Reserve Chair Jay Powell.

Dollar dropped 1.1% to a three-year low
Gold surged 2.7% to record high of $3,416.30
Swiss franc reached strongest level in a decade, gaining 1.2% against the dollar
Euro and yen also strengthened as investors reassessed U.S. assets
Bitcoin rose 3.5% to $87,735, attracting investors seeking decentralized alternatives
10-year Treasury yields increased to 4.38% due to falling bond prices
Stock markets opened lower: S&P 500 down 1.2%, Nasdaq down 1.6%
Concerns over U.S. policy direction and potential stagflation heightened investor unease