ANZ Bank: If Warsh is elected, he will be seen as protecting the "independence of the Federal Reserve," but some market volatility may simply be due to position adjustments.

Khoon Goh, Head of Asia Research at ANZ Bank, said, "I suspect that if Kevin Warsh's appointment is true, he will be seen as someone who can maintain a certain degree of independence, rather than someone who might succumb to Trump's wishes. What's more noteworthy is how the market will react when Trump finally announces his nominee. However, another point is that the US dollar has experienced significant volatility this week, so I don't think we should pay too much attention to these forex fluctuations, as they may simply be position-closing operations. Investors may simply be reducing their risk exposure before the announcement. Furthermore, especially at this point in time, if we think from the perspective of investors or market participants: what happened at the first weekend of January? The Venezuelan crisis; what happened at the second weekend? The Greenland crisis; and now the situation in Iran is also uncertain. Therefore, any rational market participant would not want to go through the weekend with large positions, so some operations may simply be reducing positions." (Jinshi)