Federal Reserve (Fed) Bank of Richmond President Thomas Barkin told Bloomberg on Thursday that economic data has been remarkable across the board but noted that he is cautious about the accuracy of numbers at the turn of the year.

Barkin added that they have time to be patient on rate changes and said that he needs to see good inflation numbers being sustained and broadening.

Market reaction

The US Dollar Index edged higher following these comments and was last seen rising 0.35% on the day at 104.40.