US Treasury Secretary Janet Yellen said on Friday that the US Federal Reserve (Fed) rate cut is very positive sign for the US economy.
Key quotes
It reflects confidence on the part of the Fed that inflation has come way down and is on the path back to the two percent target, and that the risks with respect to inflation have really meaningfully diminished.
At the same time, we have a job market that remains strong.
Market reaction
The US Dollar Index showed no reaction to these comments and was last seen gaining 0.03% on the day at 100.67.
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