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Will support further rate cuts if progress on inflation continues as expected

Posted on by Vaseline
Will support further rate cuts if progress on inflation continues as expected

Fed Governor Adriana Kugler said Tuesday that he “will support additional rate cuts if progress on inflation continues as expected.”

Additional quotes

Want a ‘balanced approach’ to make progress on inflation and avoid an unwanted slowdown in employment and economic growth.

The approach to every policy decision will continue to depend on data.

Hurricane Helene and events in the Middle East could impact the US economic outlook.

If downside risks to employment escalate, a faster rate cut may be appropriate.

If incoming data does not provide confidence that inflation is heading towards 2%, a slower normalization may be appropriate.

Market response

At the time of writing, the US Dollar Index is down 0.12% on the day.

PRICE in US dollars today

The table below shows the percentage change of the US dollar (USD) against the major quoted currencies today. The US dollar was weakest against the Japanese yen.

USD € GBP JPY CAD AUD NZD CHF
USD -0.06% 0.12% -0.15% 0.20% 0.54% 0.21% -0.08%
€ 0.06% 0.19% -0.10% 0.26% 0.60% 0.26% -0.03%
GBP -0.12% -0.19% -0.27% 0.07% 0.42% 0.07% -0.20%
JPY 0.15% 0.10% 0.27% 0.47% 0.70% 0.34% 0.08%
CAD -0.20% -0.26% -0.07% -0.47% 0.33% 0.02% -0.28%
AUD -0.54% -0.60% -0.42% -0.70% -0.33% -0.33% -0.61%
NZD -0.21% -0.26% -0.07% -0.34% -0.02% 0.33% -0.27%
CHF 0.08% 0.03% 0.20% -0.08% 0.28% 0.61% 0.27%

The heatmap shows percentage changes of the major currencies against each other. The base currency is chosen from the left column, while the quote currency is chosen from the top row. For example, if you choose the US dollar from the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent USD (base)/JPY (quote).

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