The Euro fell against the US Dollar, easing concerns about the independence of the Federal Reserve.

The euro against the dollar traded steadily, giving back some of the gains from the previous trading day, as concerns about the independence of the Federal Reserve dissipated. Francesco Pesole of Rabobank International Group said in a report that some Republican lawmakers pushed back against the Department of Justice's criminal investigation into Fed Chairman Jerome Powell, easing market tensions. He said, "Unless the theme of Fed independence returns, the euro may have missed the opportunity to break $1.1700 yesterday." He added that if data shows that core inflation in the United States exceeds expectations in December, the dollar may continue to rise. The euro remained flat at $1.1662, with Rabobank International Group believing there is room for the euro to fall to $1.1600 in the coming days.