ING Bank: Trump's nomination of an interim member to the Federal Reserve has a relatively small impact on the US dollar.

Dutch international economist Francesco Pesole stated in a report that the U.S. dollar only slightly weakened after Trump nominated Stephen Moore to fill a vacancy on the Federal Reserve Board. Moore has previously criticized the Fed on interest rate issues and called for a comprehensive reform of the central bank. He will temporarily fill the position until his term expires in January next year. Reports suggest that Fed Governor Lael Brainard is a leading candidate to replace Fed Chair Jerome Powell, which has offset this impact. Compared to another potential candidate Kevin Hassett, Brainard's position on interest rate issues is more moderate.