🚨 MARKETS ON ALERT: TRUMP TURNS UP HEAT ON FED AS GLOBAL RISKS SIMMER 🇺🇸US: Jobs data & Powell under political fire 🇮🇷Middle East de-escalation, Fed drama, and fresh rate speculation weigh on the Dollar 💸 The greenback lagged its peers this week, pressured by two big stories: • Trump’s unexpected Israel-Iran ceasefire announcement triggered a rally in equities and hammered oil, as supply risks faded. Safe-haven demand for the dollar dried up. • Though there were brief violations of the ceasefire, markets largely embraced the calmer tone. 🔵Fed’s independence under a microscope Meanwhile, Trump kept up his barrage on Fed Chair Jerome Powell, blasting him for holding rates high and hinting he may name a replacement by September or October. That raised alarms over the central bank’s autonomy. ⛔️ Futures signal ~65 bps in cuts by year-end: • A September cut is fully priced in, with whispers of a July move growing to a 25% chance. • Odds of a third cut beyond the Fed’s own two-dot forecast are above 50%.