Forex Today: US Dollar jumps, Gold slumps eyeing Trump’s Fed Chair pick

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.35%	0.38%	0.55%	0.26%	0.77%	0.53%	0.37%
EUR	-0.35%		0.03%	0.18%	-0.09%	0.42%	0.18%	0.01%
GBP	-0.38%	-0.03%		0.17%	-0.12%	0.39%	0.15%	-0.01%
JPY	-0.55%	-0.18%	-0.17%		-0.29%	0.22%	-0.03%	-0.19%
CAD	-0.26%	0.09%	0.12%	0.29%		0.51%	0.26%	0.11%
AUD	-0.77%	-0.42%	-0.39%	-0.22%	-0.51%		-0.24%	-0.41%
NZD	-0.53%	-0.18%	-0.15%	0.03%	-0.26%	0.24%		-0.16%
CHF	-0.37%	-0.01%	0.01%	0.19%	-0.11%	0.41%	0.16%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Despite the comeback, the Greenback is on track for its second straight weekly slide, heavily undermined by Trump’s erratic international policies and attacks on the Fed’s independence.

Trump on Thursday threatened to impose a 50% tariff on all aircraft sold from Canada into the United States (US), accusing Canada of unfairly blocking certification of Gulfstream business jets.

Citing Trump, Reuters reported on Thursday that he plans to speak with Iran, even as the Pentagon prepares for possible military action and the United States increases its naval presence in the Middle East.

Additionally, the White House said that Trump signed an executive order that would impose tariffs on countries that provide oil to Cuba.

Looking ahead, the focus remains on Trump’s nomination of the next Fed Chair and the US Producer Price Index (PPI) data for the next direction in the Greenback.

Ahead of that, the preliminary German and Eurozone Gross Domestic Product (GDP) reports for the fourth quarter of 2025 will grab some attention.

Across the G10 currency space, AUD/USD stays deep in the red below 0.7000 amid profit taking ahead of next week’s likely Reserve Bank of Australia (RBA) interest rate hike.

USD/JPY flirts with 154.00 as the Japanese Yen (JPY) holds softer Tokyo CPI-inspired losses amid reduced bets for an early interest rate hike by the Bank of Japan (BoJ).

EUR/USD trims losses to regain 1.1900, but sellers remain in control ahead of key German/ Eurozone GDP data.

GBP/USD holds correction at around 1.3750, pressured by the ongoing USD recovery.

Gold falls nearly 4% to trade near $5,200 in early Europe, having tested the $5,100 threshold in the Asian session.

WTI extends the pullback from five-month highs of $66.25, currently trading around $64, as Trump seems open to talk to Iran.

US Dollar FAQs

What is the US Dollar?

The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.

How do the decisions of the Federal Reserve impact the US Dollar?

The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.

What is Quantitative Easing and how does it influence the US Dollar?

In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.

What is Quantitative Tightening and how does it influence the US Dollar?

Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.