Investing.com -- Bank of Canada Governor Tiff Macklem said on Tuesday that President Donald Trump’s attempts to influence the Federal Reserve are raising questions about U.S. monetary policy independence and have weakened the U.S. dollar’s safe haven status. Speaking to the Saskatoon Chamber of Commerce, Macklem noted the dollar has fallen almost 10% since Trump imposed global tariffs in April, calling into question its role as a safe haven. "For now, the greenback remains dominant, and — without a clear alternative — I suspect it will remain the global reserve currency for the foreseeable future. Macklem cautioned that increased trade friction with the U.S. will reduce economic efficiency, increase costs, and shrink incomes in Canada. Related articlesBank of Canada’s Macklem: Trump actions dent dollar’s safe haven appealTrump rejects meeting with Democrats over government funding demandsFed’s Goolsbee sees room for rate cuts if inflation cools