Richmond Fed president Barkin: We want to be ready adjust to a fragile environment

Richmond Fed president Barkin has said that the Federal Reserve want to be ready to adjust to a fragile environment.

Key comments (possibly more to come...)

• We want to be ready adjust to a fragile environment.
• U.S. business investment has stepped back.
• Consumer dynamics remain great.

FX implications:

Earlier in the day, in an interview with Bloomberg, St. Louis Fed President Bullard argued that a 50 basis points rate cut in July would be "overdone." This sent the dollar on a tear and Fed chat is a key focus, as is U.S. data leading into the Federal Reserve decision next month.