Will Fed Governor Warsh’s first FOMC event give the U.S. dollar a hawkish boost, even after the U.S. and Iran signed their MOU? Our Event Guide for the June FOMC Decision points out that this isn’t the base case, but it’s still on the table. Warsh could spend time talking about the second round effects of sticky inflation, and that may be enough to get traders rethinking Fed rate expectations in a more hawkish direction. And if the FOMC decision does give the dollar bulls something to work with, USD/CHF and GBP/USD may be better positioned than other major dollar pairs.