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Investing.com - 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 U.S. dollar index that tracks the greenback against a basket of other currencies slipped 0.03% to 96.67 by 12:20 AM ET (05:20 GMT).
The Dow Jones Industrial Average plunged 551.80 points to close at 24,465.64 while the S&P 500 lost 1.8% to finish the trading day stateside at 2,641.89. The Nasdaq Composite, meanwhile, shed 1.7% to 6,908.82 on Tuesday.
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.
"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.
Although not a directional driver, U.S. President Donald Trump continued to pressure the Federal Reserve on Tuesday, saying rates were "too high."
"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.
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 USD/JPY pair last traded at 113.00, up 0.05%.
The USD/CNY 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.
The GBP/USD 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.
Elsewhere, the AUD/USD pair and the NZD/USD pair were both up 0.3% respectively.
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