Fed's Kashkari wants a “few more” strong labor mkt reports before tapering

Minneapolis Fed President Kashkari (Dove, '23 voter) speaks on a BBG podcast and has said that he wants to see a "few more" strong labour market reports before tapering bond purchases, underscoring the need to get the labour market back to at least pre-COVID levels of strength.

Meanwhile, the US dollar was sold off aggressively on Friday after a survey showed US consumer sentiment dropped sharply in early August to its lowest level in a decade. 

The fall was one of the six largest drops in the past 50 years of the survey.

DXY daily chart

The price is sat at prior support that meets with a 61.8% Fibonacci retracement level and there are prospects of a return to the 11 / Aug lows near 92.80.

With that being said, a downside continuation cannot be ruled out and a subsequent test of 93.35 old resistance.