Fed's Clarida: We will act appropriately to sustain the expansion

In an interview with Bloomberg, Richard Clarida, Fed Board of Governors Vice Chair,  argued that the U.S. was staying close to the Fed's 2% inflation target. 

Clarida further added that the uncertainty elevated in the last six-eight weeks but said that the outlook for expansion was sustained. "We will act appropriately to sustain the expansion," Clarida stated.

The greenback came under modest selling pressure on these headlines and erased its daily gains. The US Dollar Index was last seen down 0.07% on the day at 96.55.