|07:45||France||Non-Farm Payrolls||Quarter IV||0.4%|| ||0%|
USD fell against other major currencies in the European session on Wednesday as the tone of yesterday’s comments of the Federal Reserve’s chairman Jerome Powell disappointed investors.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, dropped 0.29% to 103.13.
Speaking at the Economic Club of Washington, Powell said that the U.S. central bank might have to do more on interest rates if the economic data suggest that is necessary. Also, the official said that the Fed has a significant road ahead to return inflation to its 2% target. In Powell's opinion, it will take this year and next year to get inflation down to 2%.
Investors had expected the Fed chair’s comments would be more hawkish in the wake of stronger-than-anticipated U.S. January jobs data.