Steven Englander, strategist at Standard Chartered in New York, said that if US President Donald Trump followed through on his threat to fire Federal Reserve chairperson Jerome Powell, it would cause inflation to rise, weaken the dollar and prompt a flight of money to the euro, yen and Swiss franc. "Attempting to remove (or precipitate his resignation) Powell could lead to a significant increase in real risk premiums across the board for inflation, the Treasury yield curve and other dollar asset markets," he wrote in a report dated April 21. "The dollar would weaken, not in a way that would enhance competitiveness but in a way that would reduce the supply of capital flowing into the US and increase upward pressure on interest rates. Safe haven currencies such as the euro, yen and Swiss franc remain the most likely beneficiaries."