Fed's Bullard: Fed is providing great forward guidance at the moment

There are more questions than answers around the yield curve control, St. Louis Federal Reserve President James Bullard said on Tuesday. 

"The Federal Reserve is providing great forward guidance at the moment," Bullard added and said that the Fed retains its credibility around its 2% inflation goal.

Market reaction

The US Dollar Index (DXY), which tracks the USD's performance against a basket of six major rivals, largely ignored these comments. The DXY was last seen losing 0.45% on a daily basis at 96.58.