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Federal prosecutors have opened up a criminal investigation into Fed Chair Powell over the central bank’s renovation of its Washington headquarters and whether Powell lied to Congress about the scope of the project, NYT reports citing officials

The news regarding a criminal investigation into Fed Chair Powell could create uncertainty around the Federal Reserve's independence and credibility.

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[MARKET UPDATE] USD/JPY gradually dips under 158.00 (vs high 158.21), with some participants on intervention watch around these levels. Note: Japan is also on holiday, thus volumes from the region likely lower

[MARKET UPDATE] Spot XAU breaks to a new ATH, currently at USD 4554/oz, amid tensions in Iran and recent US data

Federal prosecutors have opened up a criminal investigation into Fed Chair Powell over the central bank’s renovation of its Washington headquarters and whether Powell lied to Congress about the scope of the project, NYT reports citing officials

White House Press Secretary Leavitt says President Trump has no set timeline for acquiring Greenland

PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Japan closed for holiday

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Such developments may lead to volatility in the markets, especially in USD and fixed income, as investors reassess their outlook on monetary policy and potential shifts in leadership should this investigation escalate. This is a significant event that could impact market sentiment across various asset classes.

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