Sean Callow, market strategist at InTouch Capital Markets, said any move by the Trump administration to fire Federal Reserve Chairperson Jerome Powell could deal a serious blow to the dollar.
The move could push down short-term yields in anticipation of a more dovish chairperson and raise the risk and inflation premium on long-term Treasuries. There is no historical data available to gauge the reaction of foreign exchange markets, but he added that the dollar index DXY could easily fall more than 5% in the long run.
Institutional analysis: Trump's firing of Powell could send the US index down 5%.
2025-07-17 06:13:20
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