Fed's Bullard says 25 bps rate cut this month would be appropriate
The dollar catches a bit of a bid on Bullard's remarks
- Current situation doesn't warrant a larger rate cut
His remarks comes from an interview with WSJ here (may be gated) but do take note that this was from comments he made on 11 July. He also defended his decision as he dissented in June opting for a rate cut call:
"I would have preferred to just go ahead at the last meeting, and then we would have gotten out of this argument about whether we're going to do 50 basis points at the meeting and we would have been able to come into the July meeting and ask if more was needed or not."
The dollar picked up a little bid on the headline with EUR/USD pushed to a low of 1.1241 and GBP/USD falling to a low of 1.2510 as the greenback also advanced against the aussie, kiwi and yen too.