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Podcast: Bloomberg Daybreak: Asia Edition
Episode: Dollar Drops, Gold Rises as Trump Ousts Fed's Cook
Description: The dollar dropped and gold gained after President Donald Trump removed Federal Reserve Governor Lisa Cook, raising concerns about the independence of the central bank. A gauge of the dollar retreated 0.3% as Cook will be removed from the position effective immediately, according to a letter Trump posted on his Truth Social account. The yen appreciated. Treasuries flipped after initially gaining on the news, sending yields on the benchmark 10-year higher by one basis point to 4.28%. Gold rose 0.5%. Asian stocks fell along with equity-index futures for US and Europe as Trump also threatened to place export curbs on chips. We...