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Institutional analysis: Trump's firing of Powell may lead to a 5% fall in the US dollar index.
Jin10 data July 17th, InTouch Capital Markets market strategist Sean Callow stated that any move by the Trump administration to dismiss Fed Chairman Powell could severely impact the dollar. Such a move could lower short-term yields due to market expectations of appointing a more dovish chairman, while increasing the risk and inflation premium of long-term U.S. Treasury bonds. Currently, there is no historical data available to assess the forex market's reaction, but he added that in the long run, the dollar index DX could easily fall by more than 5%.
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