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“Valuations look high, but not at this level of interest rates, I think we’re ok for now,” St Louis Fed President James Bullard told CNBC on Friday.

Bullard further argued that financial stability risks were moderate at this point. “Banks’ business models will evolve to handle the low interest rate environment,” he added.

USD reaction

These comments don’t seem to be having a noticeable impact on the greenback’s performance. As of writing, the US Dollar Index was down 0.14% on the day at 97.74.