Atlanta Federal Reserve President Raphael Bostic told the Financial Times on Tuesday that the slowdown in the US labour market should not detail the Fed's taper timeline, as reported by Reuters.

Additional takeaways

"Labour market had made sufficient gains to allow the central bank to reduce, or taper, its $120 billion a month asset purchase programme."

"Would be comfortable starting tapering of asset purchase programme in November."

"Progress has been made to start winding down asset purchases."

"There is significant uncertainty about how long inflationary pressures will last."

Market reaction

The US Dollar Index preserves its bullish momentum following these comments and was last seen trading at a fresh 12-month high of 94.51.