National Australia Bank: The news of Cook's dismissal is unfavorable for the US dollar.

The National Australia Bank stated that the news of US President Trump's intention to dismiss Federal Reserve Board member Lisa Cook is detrimental to the US dollar. "Assuming Cook has no legal recourse to respond to this, her dismissal from the Federal Reserve Board would exacerbate concerns about the Fed's independence," said Sydney strategist Rodrigo Catril. "If Trump succeeds, it means he may have four board members who agree with his views"; "Whether these board members respect the Fed's independence and adhere to its dual mandate remains to be seen"; "Overall, this is unfavorable for the US dollar".