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 .DXY was last down 0.08 percent at 95.011. Earlier Wednesday, it reached an 11-month peak at 95.299.
