The Fed's Dennis Lockhart, in an interview with the Wall Street Journal, noted that there was no reason why the Fed shouldn't hike rates and that only a significant deterioration in the markets could warrant him to turn dovish. The US Dollar and the Bond yields rallied on his comments. USDJPY (124.3) gained 0.28% for the day, lifting off from the day's open at 124.016 to close at 124.366. USDJPY, which was seen consolidating near the support/resistance level of 124 looks to have cleared this zone and could potentially look for further gains in the next few days supported by economic data. The bullish view of the Atlanta Fed was taken seriously by the markets considering that Lockhart was neither on the dovish or the hawkish camp. Lockhart’s comments come just after Friday’s comments from James Bullard, head of the St. Louis Federal Reserve who was of a similar view that the US economy could now sustain a hike in short term interest rates. The US Dollar Index gained 0.49% on yesterday’s close at 97.95.