U.S. dollar declines amid Trump uncertainty

The U.S. dollar decreased against most major currencies on Wednesday as the latest turmoil in Washington triggered market concerns on whether the Trump administration could continue to push its reform agenda.

The White House on Tuesday pushed back against a new wave of media allegations that Trump might have tried to obstruct justice by asking then FBI Director James Comey to end a probe into former national security adviser Michael Flynn.

Investors have been shocked by the news and worried Trump's ability to deliver on business-friendly policies.

Market demand for safe-haven currencies soared on Wednesday, with Japanese yen rising over 1.8 percent against the dollar during the session.

The dollar index, which measures the greenback against six major peers, was down 0.61 percent at 97.506 in late trading.

In late New York trading, the euro rose to 1.1155 dollars from 1.1094 dollars, and the British pound climbed to 1.2963 dollars from 1.2925 U.S. dollars in the previous session. The Australian dollar decreased to 0.7425 U.S. dollar from 0.7434 U.S. dollar.

The U.S. dollar bought 110.94 Japanese yen, lower than 113.02 yen of the previous session. The U.S. dollar fell to 0.9785 Swiss franc from 0.9853 Swiss franc, and it edged up to 1.3635 Canadian dollars from 1.3580 Canadian dollars. Endit