Dollar weakens to lowest in three years

U.S. dollar sank to its lowest level in more than three years amid growing market concerns about the Federal Reserve's independence while global shares hit their third record high in three days on Thursday

The U.S. dollar index, opens new tab was down nearly 0.43% on the session and more than 10% for the year.

If the greenback's losses hold until the month ends, it will be the biggest fall in the first half of a year since the start of the era of free-floating currencies in the early 1970s, reports Reuters.

A Wall Street Journal report said President Donald Trump - who has been urging the Fed to cut rates faster - was toying with the idea of selecting Chair Jerome Powell's replacement in the next few months ahead of the end of his term next May.