According to online reports, Sean Callow, market strategist at InTouch Capital Markets, said that any move by the Trump administration to fire Federal Reserve Chairman Powell could have a serious blow to the dollar. The move could depress short-term yields amid market expectations that a more dovish chairman will be appointed and increase the risk and inflation premium on long-term U.S. debt. There is currently 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%.