Report published July 1, 2026

FX Daily: Warsh Should Keep the Dollar Supported – ING Research

ING · July 1, 2026

The US dollar remains supported as markets anticipate hawkish commentary from new Fed Chair Kevin Warsh. Meanwhile, the ECB is expected to maintain its tightening bias, while trade concerns weigh on the Canadian dollar.

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Finvaulta summarizes ING's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Expect Fed Chair Kevin Warsh to maintain a hawkish tone regarding price stability, supporting the US Dollar.
2.The ECB is likely to maintain its hawkish tightening rhetoric at the Sintra conference despite inflation softening.
3.The Canadian dollar faces downside risks due to potential USMCA renegotiations and dovish Bank of Canada sentiment.

FX Daily: Warsh should keep the dollar supported
USD: Warsh's comments should be dollar supportive
EUR: ECB will try to hold the line at Sintra
CAD: USMCA review poses risks
CEE: Lower inflation in Poland increases pressure on zloty

Report data

Fed Chair Kevin Warsh

Metric	Estimate	Context
Core PCE Inflation	3.4%	Recent print mentioned as backdrop for Fed policy
Poland Inflation	2.5%	Downside surprise to target

Reports in this series

FX Daily is shown in chronological order through this edition, published on July 1, 2026.

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Authors / Editors

Chris Turner · Global Head of Markets and Regional Head of Research for UK & CEEFrantisek Taborsky · EMEA FX & FI StrategistFrancesco Pesole · FX Strategist