Fed's Kashkari: Called for 50 bps interest rate cut at this week's Fed meeting

Minneapolis Fed President Neel Kashkari recently crossed the wires announcing that he called for a 50 basis points interest rate cut at this week's Fed meeting. "Aggressive action needed to re-anchor inflation expectations," Kashkari argued and added: "Fed should commit to not raising rates until inflation is sustainably at 2%."

The US Dollar Index, which came under a modest pressure following the disappointing PMI data, struggles to recover and was last seen down 0.12% on the day at 96.50.