PANews reported on July 17 that Sean Callow, market strategist at InTouch Capital Markets, said that any move by the Trump administration to fire Federal Reserve Chairman Powell could deal a severe blow to the dollar. This move could push down short-term yields due to market expectations that a more dovish chairman will 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%.