Fed's Bostic: Not much room in the event of a downturn

Raphael Bostic, president of the Federal Reserve Bank of Atlanta, on Friday said that the Federal Reserve's monetary policy was "slightly accommodative."

"We do not have much room in the event of a downturn," Bostic added. Earlier in the day, Bostic noted that he would not vote in favour of the latest rate cut if hed had a vote, as reported by Reuters.

The US Dollar Index largely ignored these comments and was last up 0.15% on a daily basis at 98.30.