FOREX - Dollar Drops after Trump Fires Fed's Cook

FOREX - SINGAPORE. The U.S. dollar surrendered gains in early trading in Asia on Tuesday after U.S. President Donald Trump said he was removing Federal Reserve Governor Lisa Cook from her position for allegedly committing mortgage fraud.

The dollar index fell 0.3% to 98.187 after Trump made the announcement in a letter to Cook that he posted on social media. The pullback came after the U.S. currency had registered its biggest daily gain of the month on Monday.