The dollar briefly tumbled on Wednesday and Treasury bond yields popped higher on reports citing an unidentified White House official that U.S. President Donald Trump is likely to fire Federal Reserve Chair Jerome Powell soon,

President Donald Trump has looked to the marble finishes and hefty price tag of the Federal Reserve headquarters to claim grounds to fire Chair Jerome Powell, with whom he has tussled for years over interest rates.

Federal Reserve Chair Jerome Powell is under fire from the White House, which accuses him of bungling a yearslong renovation of the Fed's headquarters and has suggested that it could be cause to fire him.