The dollar was little changed, while the Japanese yen slipped on Wednesday after climbing overnight following reports that U.S. President Donald Trump’s longtime lawyer Michael Cohen admitted to making illegal payments and committed other crimes to influence the 2016 election.
The U.S. dollar index, which tracks the greenback against a basket of other currencies, edged 0.01% higher to 95.14 by 12:35AM ET (04:35 GMT).
The dollar was under pressure on Tuesday after Trump said he is “not thrilled” about the Federal Reserve’s decision to raise rates.
On Tuesday, Cohen pleaded guilty to eight counts related to tax fraud, excessive campaign contributions, making false statements to a financial institution, and unlawful corporate contributions. While he did not name Trump directly during the hearing, his attorney Lanny Davis said shortly afterward that “Donald Trump directed [Cohen] to commit a crime by making payments to two women for the principal purpose of influencing an election.” The Justice Department confirmed late Tuesday that Trump was the unidentified candidate.
