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President Trump is pressing ahead with plans to remove Federal Reserve Governor Lisa Cook over mortgage fraud claims, reigniting a legal dispute the Supreme Court previously rejected in June.
The US dollar tumbled towards its worst weekly performance in three months following weaker-than-expected June employment figures, dimming prospects for near-term Federal Reserve rate increases and providing relief to struggling currencies including the Japanese yen.
The US dollar climbed to its strongest level in over a year as markets price in higher Federal Reserve rates, while the Japanese yen weakened toward four-decade lows, prompting discussions between Japanese and US financial authorities.