Fed’s Kugler: Will support additional rate cuts if progress on inflation continues as expected

Dhwani Mehta FXStreet

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

Additional quotes

Want 'balanced approach' to make progress on inflation and avoid undesirable slowdown in job and economic growth.

Approach to any policy decision will continue to be data dependent.

Hurricane helene, middle east events could affect the US economic outlook.

If downside risks to employment escalates, cutting rates more quickly may be appropriate.

If incoming data do not provide confidence inflation is moving toward 2%, slowing normalization may be appropriate.

Labour market cooling has started but the Fed is looking at trends, not single data.

Healthy levels of jobs creation is very welcome.

Several metrics point toward labour market cooling.

I have been seeing serious reduction in inflation.

Market reaction

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

US Dollar PRICE Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.06%	0.12%	-0.15%	0.20%	0.54%	0.21%	-0.08%
EUR	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 heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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