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“The Trump administration is considering immediate fiscal measures, separate from the tax cut being crafted ahead of the election,” White House economic adviser Larry Kudlow told reporters on Friday.

“The Fed did a good job with the rate cut. If there is a huge global demand, the Fed should supply more dollars,” Kudlow added. “The US bond market is probably signalling expectations about the fed policy.”

Market reaction

The US Dollar Index staged a modest rebound after these comments and was last still down 0.55% on the day at 96.05.