White House adviser Navarro: Fed should cut rates by 75 basis points of full point by year-end

In an interview with Fox News, White House trade adviser Navarro called upon the Federal Reserve to cut the policy rate by "another three-quarter of a point or full point" by the end of the year with an aim to bring the rates into line with "rates elsewhere."

Despite these comments, the US Dollar Index (DXY) continues to float in the upper half of its daily range. At the moment, the DXY is up 0.25% on the day at 97.65.