Fed's Powell says there is more labour slack than jobs data suggests

Comments on the wires just now from CNBC interview with Fed governor Jerome Powell

• labour market continues to be strong
• says he will be focussing on labour market data

No surprises there then given recent FOMC statement

• interest rates are a blunt instrument
• Fed will move forward when tests are met
• time is coming to raise rates, possibly this year
• path of rates more important than start date
• US still shaking off risk aversion

Doesn't sound like a man in a hurry and that's produced a few US$ sellers

GBPUSD stalling for the moment at 1.5632 EURUSD 1.0876 USDJPY 124.27 USDCHF 0.9788

Fed's Powell- US economic picture still a little blurred