NEW YORK (Reuters) -The dollar fell on Friday after Federal Reserve Chair Jerome Powell pointed to a possible rate cut at the central bank's September meeting but stopped short of committing to cutting interest rates.
"While the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers. This unusual situation suggests that downside risks to employment are rising. And if those risks materialize, they can do so quickly,” Powell told an audience of international economists and policymakers at the Fed’s annual conference in Jackson Hole, Wyoming.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was last down 0.43% on the day at 98.18, after trading around 98.7 before Powell's comments.
The euro gained 0.51% to $1.1664. Against the Japanese yen, the dollar weakened 0.51% to 147.61.
(Reporting by Karen Brettell; Editing by Chizu Nomiyama )
Dollar drops as Powell points to possible September rate cut
Published 2 months ago
Aug 22, 2025 at 1:36 AM
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