June 20, 2018 / 1:46 PM / a month ago

FOREX-Dollar index trims losses after remarks from Fed's Powell

NEW YORK, June 20 (Reuters) - The dollar pared its earlier losses against a basket of currencies on Wednesday after Federal Reserve Chairman Jerome Powell repeated the case for gradual U.S. interest rate increases as the economy improves further.

Powell was speaking before a central banking conference in Sintra, Portugal.

At 9:36 a.m. (1336 GMT), an index that tracks the dollar against the euro, yen, sterling and three other currencies was last down 0.08 percent at 95.011. Earlier Wednesday, it reached an 11-month peak at 95.299. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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