U.S. President Donald Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign, citing a call by the head of the U.S. Federal Housing Finance Agency urging the Department of Justice to probe Cook over alleged mortgage fraud.

The dollar declined following President Trump's call for Federal Reserve Governor Lisa Cook's resignation amid mortgage fraud allegations. Markets reacted to concerns of political interference in the Federal Reserve.

Treasury yields turned lower as President Trump called for Fed governor Cook’s resignation after she was accused of mortgage fraud by one of his allies, Federal Housing Finance Agency’s head Bill Pulte,