Attempts to predict when and how quickly central banks will raise interest rates and conclude stimulus programmes launched when COVID-19 hit are a major factor driving currency markets at present.
Biden will nominate three people for the Federal Reserve's Board of Governors.
Raskin, a former Fed governor and Treasury official under former President Barack Obama, will replace Randal Quarles who was appointed the Fed's vice chair for supervision by Trump
Equity markets had a bruising start to the year as bets that the Fed could raise interest rates as soon as March spurred investors to pare risky assets
The Fed in December flagged plans to tighten policy faster than expected in response, with a rate hike perhaps as soon as March
Spot gold XAU= fell 0.3% to $1,804.60 an ounce by 1038 GMT, having touched its lowest since Dec. 29 at $1,792.30. U.S. gold futures GCv1 dropped 1.5% to $1,797.70.
Treasury yields remained elevated, while gold gained along with crude oil
The Federal Reserve said on Wednesday it would end its pandemic-era bond purchases in March and pave the way for three quarter-percentage-point interest rate hikes by the end of 2022.
The Fed's key rate, now pinned near zero, influences many consumer and business loans, including mortgages, credit cards and auto loans.
The MSCI global stock index was flat at 735.13 points, just over 3% below a lifetime high last month
US inflation's so persistent that US policymakers do not consider it as 'transitory'. Will the US Fed become the first major global central bank to hasten tapering of its asset purchase programme?
Higher US rates would impact flows into emerging markets like India
Data later in day on US factory gate inflation may cement expectations Fed will announce an accelerated tapering of stimulus, allowing it to wrap up bond-buying around March, proceed with rate hikes
Macro-economic domestic inflation data points coupled with FIIs' flow direction and the rate decision of the US Fed will determine the key equity indices' moves during the upcoming week
Experts said the mood turned sombre after first Omicron cases were reported on Thursday from Karnataka
The Fed pointed specifically to the crisis at real estate developer Evergrande
The US Federal Reserve said it would start its tapering later this month
The Fed announced on Wednesday a $15 billion monthly cut to its $120 billion in monthly purchases of Treasuries and mortgage-backed securities
In a widely expected move, the Fed said it would start trimming its monthly asset purchases in November with plans to end them by mid-2022
Will Fed chair Jerome Powell pull start reducing monetary supply even though GDP numbers for the September quarter were weak and inflation remains sticky?