The dollar was flat on Wednesday morning in Asia despite a fall in U.S. stocks overnight. Other major currencies were also mostly unchanged.<\/p>\n
The\u00a0<\/span>U.S. dollar index<\/a><\/span>\u00a0<\/span>that tracks the greenback against a basket of other currencies slipped 0.03% to 96.67 by 12:20 AM ET (05:20 GMT).<\/p>\n The\u00a0<\/span>Dow Jones Industrial Average<\/a><\/span>\u00a0<\/span>plunged 551.80 points to close at 24,465.64 while the\u00a0<\/span>S&P 500<\/a><\/span>\u00a0<\/span>lost 1.8% to finish the trading day stateside at 2,641.89. The\u00a0<\/span>Nasdaq Composite<\/a><\/span>, meanwhile, shed 1.7% to 6,908.82 on Tuesday.<\/p>\n The Dow and the S&P 500 erased their gains for 2018 and are now down 1.0% and 1.2% respectively for the year.<\/p>\n “What’s driving currency markets right now are fears of a slowdown in economic growth with safe haven currencies like the dollar and yen likely to benefit,” said Michael McCarthy, chief markets strategist at CMC Markets.<\/p>\n Although not a directional driver, U.S. President Donald Trump continued to pressure the Federal Reserve on Tuesday, saying rates were “too high.” Meanwhile, the safe-haven yen traded slightly lower against the dollar, as Japanese investors preferred to keep their money in U.S. and foreign markets, Reuters reported citing analysts. The\u00a0<\/span>USD\/JPY<\/a><\/span>\u00a0<\/span>pair last traded at 113.00, up 0.05%.<\/p>\n The\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair was flat at 6.9461 as the People’s Bank of China (PBOC) set the yuan reference rate at 6.9449 vs Tuesday’s fix of 6.9280.<\/p>\n The\u00a0<\/span>GBP\/USD<\/a><\/span>\u00a0<\/span>pair was little changed at 1.2793. Traders expect the pound to trade sideways until the market gets more clarity on progress in the Brexit deal.<\/p>\n Elsewhere, the\u00a0<\/span>AUD\/USD<\/a><\/span>\u00a0<\/span>pair and the\u00a0<\/span>NZD\/USD<\/a><\/span>\u00a0<\/span>pair were both up 0.3% respectively.<\/p>\n","protected":false},"excerpt":{"rendered":" The dollar was flat on Wednesday morning in Asia despite a fall in U.S. stocks overnight. Other major currencies were also mostly unchanged. The\u00a0U.S. dollar index\u00a0that tracks the greenback against a basket of other currencies slipped 0.03% to 96.67 by 12:20 AM ET (05:20 GMT). The\u00a0Dow Jones Industrial Average\u00a0plunged 551.80 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-1098","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\/1098","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=1098"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1098\/revisions"}],"predecessor-version":[{"id":1099,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1098\/revisions\/1099"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=1098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=1098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=1098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n“I think we have much more of a Fed problem than we have a problem with anyone else,” Trump told reporters outside the White House.<\/p>\n