A fuel injector for an engine is disclosed. The fuel injector may have a fuel nozzle with at least one injection orifice, and a needle element movable within the fuel nozzle between a first position at which the needle element inhibits fuel flow and a second position at which fuel flow is substantially uninhibited. The fuel injector may also have a control chamber located at a base end of the needle element, a body, and a control valve disposed within the body and movable to selectively drain the control chamber, thereby causing the needle element to move between the first and second positions. The fuel injector may further have an armature disposed within an armature cavity of the body and selectively energized to move the control valve, and a pressure reducer disposed within the body and configured to reduce a pressure of the armature cavity.