Fed's Kaplan: Need to consider broader economic policy aside from any possible rate cuts

"It's too soon to comment on what the Federal Reserve will do amid the market turmoil," Dallas Fed President Robert Kaplan told Fox Business on Friday. "We need to consider the broader economic policy aside from any possible rate cuts."

"The global growth is slower, it will spill over to some extent to the US," Kaplan noted and reiterated that he is against negative rates in the US. "The uncertainty is causing businesses not to cancel projects altogether but to be judicious." 

DXY clings to small daily gains

The US Dollar Index (DXY) failed to capitalize on these comments and was last seen at 98.50, where it was up 0.12% on the day.