During today's Asian trading, the US dollar fell against the euro, yen and pound. The leaders of the Federal Reserve System have repeatedly repeated that they consider the jump in inflation to be temporary. However, investors fear that the strengthening of consumer price growth may exceed the expectations of the Fed, which will force it to tighten monetary policy earlier than expected.

The focus of investors ' attention on Wednesday is the speech of Fed Chairman Jerome Powell at the Financial Services Committee of the House of Representatives of the US Congress, where he will present a semi-annual report on the state of the US economy. Traders are waiting for new signals from Powell about whether the Fed still considers the acceleration of inflation to be a temporary phenomenon.

The report, which was released last Friday, showed that the leadership of the US Fed is concerned about changing conditions in the US labor market. The Fed noted the risk that the pandemic will have "long-term consequences for the structure of the labor market," including due to the fact that it accelerated the introduction of new technologies.

The opinion of the Fed management about what will be "full employment" will be key for the central bank to make a decision on when to start raising rates, since inflation may already be close to the target level.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell by 0.13%.