"u-s-federal-reserve"

The appointment, which requires Senate confirmation, amounts to a return trip for Warsh, 55, who was a member of the Fed's board from 2006 to 2011

Slowing domestic growth, widening trade deficit, and persistent foreign fund outflows fuel depreciation

The latest wave of selling came after central banks in Europe raised interest rates a day after the U.S. Federal Reserve hiked its key rate again, emphasizing that interest rates will need to go higher than previously expected in order to tame inflation.