USD ticks higher after comments from Fed Kashkari

USD gained a bit after hawkish comments from Neel Kashkari, president of Minneapolis Fed. Kashkari said that it will be a close call between keep rates unchanged and hiking them at June meeting. He also said that if inflation remains stubbornly high then interest rates by increase above 6% but it is not clear yet whether it will be needed. Kashkari said that his dot was above 5.125% in the latest projections. Interestingly, Kashkari, who is known from his rather dovish approach, said in an interview with Wall Street Journal last night that he would support keeping rates unchanged at the coming meeting.

USDJPY jumped to a new daily high after Kashkari's comments but has erased part of the move since. Source: xStation5

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