US Treasury's Adeyemo: There had been no significant credit pullback

The US Deputy Treasury Secretary Wally Adeyemo, expressed optimism on Monday that US banks had not curtailed lending as much as expected since financial issues were seen earlier this year, per Reuters. 

Adeyemo said at an Economic Club of New York event that the US banking industry had undergone considerable consolidation following the bankruptcy of numerous banks in late winter and early spring, but there had been no significant pullback in credit.

Market Reaction

The US Dollar Index (DXY) is trading at 104.50, unchanged on the day amid the improvement in risk sentiment.