Euro sinks to weakest since April 2025 on dollar strength
The euro fell to its weakest since April 2025 as US Treasury yields rose and the market priced in more Fed tightening.
President Trump replaces chief of staff Susie Wiles with Stephen Miller.
President Trump announced that White House chief of staff Susie Wiles is departing her role, adding that she will transition to the Trump political operation.
Stephen Miller, whom Trump described as 'one of my most trusted advisors', will take over the position. Miller previously served as deputy chief of staff.
According to Bloomberg, Wiles tendered her resignation on Thursday evening, suggesting the move may have originated from her rather than Trump.
Miller is widely recognized as a hardliner on immigration, which is his primary reputation. He attracted less attention following the immigration enforcement actions in Minnesota. More significantly, Miller has been among the strongest public advocates for Trump's 2026 military campaign against Iran.
The appointment may indicate that Trump does not intend to pursue peace or reduce tariffs. Rather, he might intensify efforts on both issues to reshape his legacy as a leader willing to make difficult long-term decisions.
In April, Miller stated that the U.S. blockade could be maintained indefinitely should Iran reject a negotiated agreement. He also warned of possible attacks on Iranian energy facilities, though he characterized that as a final option.
Privately, there is limited reporting on his views, so he may simply be repeating standard administration talking points. Regardless, elevating Miller from deputy chief of staff to the top role enhances his ability to shape which advice reaches Trump and how policies are executed. He is considerably more ideologically driven than Wiles in nearly every area.
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The euro fell to its weakest since April 2025 as US Treasury yields rose and the market priced in more Fed tightening.
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