Online reports, according to foreign media analysis, if US President Trump chooses Kevin Hassett or David Malpass to take over Kugler's position as a Fed governor, the US dollar may weaken. Because Hassett and Malpas are seen as more dovish than Kevin Warsh, another popular candidate for the position. Trump will announce before the end of this week who will replace Kugler, and this candidate may also become the Federal Reserve chairman to replace Powell. Trump has so far narrowed the list to four: Hassett, Malpas, Walsh and current Federal Reserve Governor Waller. Regardless of whom Trump ultimately chooses to replace Kugler, that candidate is likely to advocate a Fed rate cut by more than 25 basis points in September.