The euro rose in European trade on Tuesday on track for the third straight profit against the dollar, while trading near four-year highs as the dollar weakens after US President Trumps constant attacks against Fed Chair Jerome Powell.

Now investors await European Central Bank President Christine Lagardes remarks for more clues on the future path of European interest rates.

The Price

The EUR/USD price rose 0.25% today to $1.1541, with a session-low at $1.1481.

The euro rose 1.1% on Monday against the dollar, the second profit in a row amid a loss of confidence in the dollar.

US Dollar

The dollar index fell 0.2% on Tuesday on track for the third straight session, and is about to hit three-year lows at 97.92 against a basket of major rivals.

A New Attack

Trump called Powell big loser and Mr Too late, and called on him and the Fed once more to cut interest rates.

The White House said its considering ways to fire Fed Chair Jerome Powell after Trump expressed urgent desires to terminate him due to disagreements about monetary policies.

Such news continues to rattle the markets, which depend heavily on the independence of the Federal Reserve from any political interference as a pivotal mainstay in the global financial system.

Lagarde

ECB President Christine Lagarde is scheduled to speak to CNBC later today and discuss the latest developments in the eurozone and the US tariff crisis.

Last week, Lagarde said that tariffs represent a shock, but their impact on inflation remains unclear.

She said the picture might not become clear by the next policy meeting in June, as the 90-day pause on tariffs would still be in place by then.

European Rates

Reports showed that some ECB officials see a high probability of a rate cut in June.

Markets are pricing in a 60% chance of an ECB rate cut in June.

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