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Federal Reserve George says she was encouraged, surprised by 3Q bouncebacks in the US economy and says that the economy will continue to grow but will see some moderation.

George says the key risk to the economy is the virus and that she thinks a lot about scarring to the economy, and public confidence, after the pandemic.

George says that there are still 10 mln Americans unemployed, with women, people of colour is over-represented.

George says that the Fed policy is appropriately calibrated.

There is no market reaction to the comments as markets take a breather from the Fed and concentrate on COVID and US stimulus. 

DXY daily chart

If resistance holds, there could be a bid in the G10’s extending their recent vaccine lead gains across the board.