Fed's Barkin: We'll taper when we get to substantial further progress

Richmond Federal Reserve Bank President Thomas Barkin said on Friday that the Fed will taper then they get to "substantial further progress," as reported by Reuters.

Meanwhile, Atlanta Federal Reserve President Raphael Bostic noted that he will be data-drive when thinking about the policy. "I am monitoring the marketplace, trying to discern between transitory and permanent to find the right time for a policy change," Bostic added.

Market reaction

The US Dollar Index, which tracks the USD's performance against a basket of six major currencies, keeps its firm footing after these comments and was last seen gaining 0.35% on the day at 90.05.