LONDON, July 17 (Reuters) - Wednesday's market drama on reports of an imminent ouster of Federal Reserve Chair Jerome Powell has calmed quickly, with President Donald Trump saying it was " highly unlikely" he would fire the central bank boss even as speculation continue to brew.

It appears President Donald Trump set a test for the market to see what investors would think of him firing Jerome Powell. The bond and stock markets provided a swift answer to Trump’s test. The test originated inconspicuously from a post on X by Florida Republican Anna Paulina Luna,

This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.

DXY tests 50-day average as traders weigh Powell’s future and strong U.S. retail data. Dollar outlook hinges on 98.700 support and global risk trends.

The stock market does not want Donald Trump to fire Jerome Powell.

There could be a revolt in global markets, including a possible collapse in the dollar and US bonds, if President Donald Trump were to take the unprecedented step of removing Federal Reserve Chair Powell from the helm of the central bank,

Investors are becoming more measured in their reaction to news about Trump's Washington policy, with Wednesday's whipsawing headlines over Federal Reserve Chair Jerome Powell triggering a reaction that fell short of what could happen if the Fed chair was indeed fired.