The US dollar showed a slight recovery in trading yesterday Thursday to reduce the decline that continued the previous day.
Federal Reserve (Fed) Governor Christopher Waller is reportedly a front-runner to replace the chairman of the central bank.
President Donald Trump has previously repeatedly criticized Fed Chairman Jerome Powell, who is said to have failed to carry out his job of managing monetary policy, causing trillions of dollars in losses to the United States (US) economy.
The recovery of the US dollar is still seen as unconvincing for investors, with a slow decline again displayed at the close of the New York session and continuing at the opening of the Asian session this morning (Friday).
The development of global tariffs is also still being observed after there was a recent threat from Trump to impose a 100% tariff on chip and semiconductor imports.
Meanwhile, India faces the risk of additional tariffs following its refusal to comply with Trump's order not to continue buying Russian oil.
Also in focus yesterday was the Bank of England (BOE) policy meeting which met expectations of lowering interest rates by 25 basis points from 4.25% to 4.00%.
However, the Pound currency did not show any decline but instead continued to strengthen after the results of the meeting following more central bank policymakers voting to maintain interest rates than predicted.
The decision, seen as a 'hawkish cut' by the BOE, supported the further strengthening of the Pound to reach new highs this week against the US dollar.
For today's focus, Canadian employment data will be the focus of New York session trading which will influence the movement of the Canadian dollar at the end of the week.
