Institutional analysis: Trumps dismissal of Powell could cause the US dollar index to fall by 5%

CoinRank News: Sean Callow, market strategist at InTouch Capital Markets, said any move by the Trump administration to fire Fed Chairman Powell could deal a severe blow to the dollar. Such a move could push down short-term yields as the market expects a more dovish chairman to be appointed, and increase the risk and inflation premium of long-term U.S. Treasuries. There is no historical data available to assess the reaction of the foreign exchange market, but he added that in the long run, the U.S. dollar index DXY could easily fall by more than 5%. (Jinshi)