USD: Softer tone guided by Fed chair uncertainty - BBH

The US dollar has a softer tone today, as it eased further after the upside momentum faded yesterday and the heavier tone in Asia seemed spurred by a hedge fund manager's call that Minneapolis Fed President, and among the most dovish members of the FOMC, Kashkari would be the next Fed chair.  

Key Quotes

“This was quickly followed by reported leaks of a short list of candidates, which included the likely suspects, Yellen, Cohn, Warsh, and Powell.   This may have seemed like new news in Asia, but in the US, even Powell's inclusion is not a surprise.  Indeed, as we have noted, Powell had moved into second place behind Warsh in the betting markets.  Kashkari did not appear on the list.  With the exception of the NY Fed, the skills set needed to be a regional Fed president may not be the same for the Chair.  The President's nomination is expected by the end of the month.  Yellen speaks late in the North American session but is unlikely to address the nuances of monetary policy or her future in the welcoming remarks at a community bank event.”