FXStreet (Delhi) – Research Team at TDS, suggest that the main focus today will probably be on the NY Fed’s Dudley and his comments on the Fed’s policy setting will be keenly watched. Key Quotes “He will be part of a panel discussion entitled “How the Fed Should Decide the Appropriate Level of Interest Rates”, so he will have ample opportunity to comment on the subject. As recently as last week, he was sticking to his guns that the first rate hike could come as soon as this month, so any real deviation from that will be a notable departure.” “We continue to think the statements from Fed Governors Brainard and Tarullo are very significant as it is very rare to get such an open divergence of views among the permanent voting members of the FOMC.” “As another permanent voting member of the FOMC and seen to be part of Yellen’s “inner circle”, Dudley is widely considered to be among the more influential members of the Committee. Whether these two Governors are simply expressing their individual views or this is part of an attempt to back away gracefully from a broader insistence that a rate hike is likely this year, our base case remains unchanged. We remain firmly of the view that the most likely timing of the first Fed rate hike is not until March 2016.” “Today also has comments scheduled from the Fed’s Bullard (2016 voter) and Mester (non-voter), but we don’t expect any major change in tone from either of these, which have run to the more hawkish end of the spectrum.” For more information, read our latest forex news.