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While speaking to at an event in London on Tuesday,    St. Louis Federal Reserve bank president James Bullard voiced his concerns over the Trump administration’s trade policy and said trade disputes have opened a “Pandora’s box.”

Regarding the potential use of negative interest rates by the Federal Reserve, “I’m not a fan of negative interest rates, I think they would cause particular issues in the United States (US),” said Bullard, per Reuters. Commenting on the Fed’s recently-launched Treasury bill buying programme, Bullard said it was definitely not  “quantitative easing (QE).”

The US Dollar Index largely ignored these remarks and was last virtually unchanged on a daily basis at 98.45.