April 21, 2025 Global markets reacted with declines to political instability in the United States. President Donald Trump criticized Federal Reserve Chairman Jerome Powell and is considering removing him, which raised concerns about the independence of the US Federal Reserve.White House adviser Kevin Hassett confirmed that the Trump administration is exploring the possibility of removing Powell. This caused investor confidence in the dollar to fall, which hit multi-year lows. The euro surpassed the $1.15 mark. Analysts warn that even without Powell's actual ouster, Trump's actions could undermine the perception of the Fed's independence, which would negatively impact market confidence.The 1,1200-1,1270 range acted as support for EUR/USD. Now, after updating the local high, buyers may meet resistance as they approach 1.1600.