India, April 23 -- The U.S. dollar strengthened against its major counterparts in the New York session on Wednesday, amid optimism about easing trade tensions between the U.S. and China and President Donald Trump appeared to soften his stance on Federal Reserve Chair Jerome Powell.
"I have no intention of firing him," Trump told reporters on Tuesday but reiterated he would like to see Powell and the Fed resume lowering interest rates.
Trump's attack on Powell, including calling him a "major loser" as recently as Monday, had led to anxiety about the Fed's independence.
The president also suggested he's willing to take a less confrontational approach to trade talks with China, predicting the current 145 percent tariff on Chinese imports wi...