LONDON/SINGAPORE—The dollar fell on Wednesday after Federal Reserve Chair Jerome Powell declined to meaningfully harden his tone on inflation, despite very strong U.S. jobs numbers last week.
In a question-and-answer session before the Economic Club of Washington on Tuesday, Powell said interest rates might need to move higher than expected if the U.S. economy remained strong, but reiterated he felt a process of “disinflation” is underway.
