FXStreet (Delhi) – Research Team at TDS, note that the USD is trading under pressure today, losing ground against the whole G10 complex and most liquid EM currencies, as a second member of the Fed’s Board of Governors has spoken publicly downplaying the need for near-term rate hikes. Key Quotes “This is a very significant shift in the debate, we think, and raises the bar considerably for US rate hikes this year. NY Fed President Dudley is set to speak on a panel discussion tomorrow. We will be watching his comments carefully for any sign that he may also be changing his view.” “Dudley said as recently as last week (9 Oct) that a rate hike was possible at the October meeting, so any deviation from that would be notable. As a 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.” For more information, read our latest forex news.