The U.S. dollar jumped broadly against major currencies on Wednesday as investors heaved a sigh of relief after President Donald Trump backed away from threats of firing Federal Reserve Chair Jerome Powell following his recent attacks.

A flight from U.S. financial assets prompted by President Trump’s trade war is subsiding as the White House appears increasingly keen to strike a new trade deal with top U.S. trading partner

US stocks ended the day sharply lower Monday and the dollar tumbled as investors assessed continued tariff uncertainty and the implications of President Donald Trump’s ongoing mission to try and oust Federal Reserve Chair Jerome Powell.