The dollar edged down on Wednesday while the Japanese yen also slipped as U.S. stocks fell on disappointing corporate results.<\/p>\n
The\u00a0<\/span>U.S. dollar index<\/a><\/span>\u00a0<\/span>that tracks the greenback against a basket of other currencies was down 0.06% at 95.70 by 1:00 AM ET (05:00 GMT).<\/p>\n Overnight, the\u00a0<\/span>Dow Jones Industrial Average<\/a><\/span>\u00a0<\/span>fell by 125.98 points to close at 25,191.43 while the\u00a0<\/span>S&P 500<\/a><\/span>\u00a0<\/span>closed 0.6% lower to 2,740.69. The\u00a0<\/span>Nasdaq Composite<\/a><\/span>slipped 0.4% to close at 7,437.54.<\/p>\n The losses came as\u00a0<\/span>Caterpillar\u00a0<\/span><\/span><\/span>(NYSE:CAT<\/a><\/span>) closed 7% lower after reporting disappointing earnings results. Higher steel prices and tariffs resulted in increased material costs for the company, according to a statement.<\/p>\n Energy producers also slumped more than 1% as oil prices remained at a five-week low.<\/p>\n Meanwhile, U.S. President Donald Trump told the Wall Street Journal that he is \u201cvery unhappy with the Fed\u201d for endangering the U.S. economy by raising rates.<\/p>\n The Fed hiked interest rates three times this year after data showed U.S. economy was healthier than expected. Markets widely expected the central bank to raise rates again before year-end.<\/p>\n The yen also slipped against the dollar after rising earlier in the day as risk-off sentiment boosted the Japanese currency. The\u00a0<\/span>USD\/JPY<\/a><\/span>\u00a0<\/span>pair last traded at 112.62, up 0.2%.<\/p>\n The\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair slipped 0.02% as the People’s Bank of China (PBOC) set the yuan reference rate at 6.9357 vs the previous day’s fix of 6.9411.<\/p>\n The\u00a0<\/span>AUD\/USD<\/a><\/span>\u00a0<\/span>pair and the\u00a0<\/span>NZD\/USD<\/a><\/span>\u00a0<\/span>pair rose 0.2% respectively.<\/p>\n Elsewhere, The\u00a0<\/span>British Pound<\/a><\/span>\u00a0<\/span>remained in focus as British Prime Minister Theresa May prepares to address her Conservative Party lawmakers later today.<\/p>\n","protected":false},"excerpt":{"rendered":" The dollar edged down on Wednesday while the Japanese yen also slipped as U.S. stocks fell on disappointing corporate results. The\u00a0U.S. dollar index\u00a0that tracks the greenback against a basket of other currencies was down 0.06% at 95.70 by 1:00 AM ET (05:00 GMT). Overnight, the\u00a0Dow Jones Industrial Average\u00a0fell by 125.98 Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-1044","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=1044"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1044\/revisions"}],"predecessor-version":[{"id":1045,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1044\/revisions\/1045"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=1044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=1044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=1044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}