Fed's Kaplan say he is comfortable with plans to taper bond buys soon

Robert Kaplan, President of the Dallas branch of the Federal Reserve, has said that he supports the bank's plans to announce the tapering of the bond-buying scheme soon. Kaplan has been one of the first to back withdrawing stimulus and will retire shortly due to an ethics issue.

In the latest rate-setting meeting, Fed Chair Jerome Powell signaled that the bank would most likely make the announcement in its November decision and would complete the reduction of purchases by mid-2022, a relatively hawkish stance that boosted the dollar. The Fed currently buys $120 billion per month.

The US dollar has been paring some of its gains on Friday. Core PCE and the ISMA Manufacturing PMI are next on the docket.