TechFlow news — On January 12, according to Jinshi Data, Francesco Pesole, FX strategist at ING Bank, said in a report that the dollar faces significant downside risks after Federal Reserve Chair Jerome Powell revealed that the Fed received a subpoena from the U.S. Department of Justice over cost overruns related to the renovation of its headquarters. He noted that this move has reignited market concerns about the Fed's independence and could trigger another "sell-America" trade. Pesole stated: "Any further signs of attempts to interfere with the Fed's independence would pose considerable downward risks to the dollar."
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