Fed's Kaplan: Businesses across industries can't predict how tariffs will be resolved

While speaking at an event in Toronto, Canada, Robert Kaplan, president of the Federal Reserve Bank of Dallas, argued that the US economic picture was mixed with strong consumers and the uncertainty surrounding the manufacturing sector. Kaplan further added that it was not surprising to see the weakness surrounding the manufacturing sector amid the ongoing trade dispute.

"Businesses across industries can't predict how tariffs will be resolved; being more careful is the rational, appropriate response," Dallas stated, per Reuters.

Meanwhile, the US Dollar Index is edging lower during the American trading hours and was last down 0.4% on the day at 98.57.