Kevin Warsh has been nominated by President Trump to be the next Fed chair, but his confirmation process may be complicated. Warsh's past as a hawk has shifted towards a more dovish stance in recent years.
The Dollar is poised for a potential recovery following the expected nomination of Kevin Warsh as the new Federal Reserve Chair. This development is seen as a positive sign for the Dollar, which has been seeking a catalyst for recovery.
The USD/INR pair ended Friday’s session with 0.1% gains at 91.87. On the same day, the pair posted a fresh all-time high at 92.21 amid weakness in the Indian Rupee (INR) due to the continuous outflow of foreign funds from the Indian stock market.