The dollar was steady on Friday but poised for a weekly fall as U.S. President Donald Trump's temporary choice for a fill-in Federal Reserve governor stoked expectations for a dovish pick to replace chair Jerome Powell when his term ends.

In a post on Truth Social, President Trump said he’s chosen Stephen Miran, who heads the Council of Economic Advisers, to serve in the recently vacated seat until Jan. 31.

If confirmed, Stephen Miran, the current chair of the Council of Economic Advisers, would temporarily fill a position left vacant by Adriana Kugler, who is stepping down early.