Ex-Fed’s Kaplan: FOMC 'hawkish pause' in June, July hike is open

Former Dallas Federal Reserve Bank (Fed) President Robert Kaplan said in an interview early Tuesday, he would support a "hawkish pause" at this week's meeting.

He add that he would “leave the question of a July hike open.”

His former colleague and former Boston Fed Chief, Eric Rosengren, tweeted early Monday, noting that he expects a “hawkish skip this week.”

Market reaction

Despite hawkish messages from former Fed officials, the US Dollar remains on the back foot across the board in sync with the US Treasury bond yields, as markets stay unnerved ahead of the key US Consumer Price Index (CPI) data due later this Tuesday. The US Dollar Index is losing 0.08% on the day to trade at 103.57, as of writing.