India, June 26 -- The U.S. dollar weakened against other major currencies in the Asian session on Thursday, as financial markets reacted apprehensively to mounting worries about the future independence of the U.S. Federal Reserve. The drop came as news broke that President Donald Trump is thinking of replacing Fed Chair Jerome Powell before the November elections.
Reports showed that Trump was considering naming Powell's replacement by September or October.
On Wednesday, U.S. President Donald Trump stepped up his attacks on Federal Reserve Chair Jerome Powell, labeling him "terrible" and announcing that he had whittled down a list of possible successors to the top Fed position.
Markets consider that if this move was seen as having politi...