St. Louis Federal Reserve President James Bullard argued on Friday that the US Federal Reserve and the European Central Bank (ECB) may be able to achieve a relatively soft landing, as reported by Reuters."

"Volcker had to earn credibility; the Fed and the ECB have considerable credibility," Bullard added and reiterated that a soft landing was feasible for both central banks.

Market reaction

These remarks don't seem to be having a noticeable impact on the dollar's performance against its major rivals. As of writing, the US Dollar Index was up 0.8% on a daily basis at 104.60.