The U.S. dollar steadied against its major peers on Wednesday on hopes of de-escalating trade tensions and as President Donald Trump backed away from threats to fire the head of the Federal Reserve, offering relief to investors.

The dollar was rising as concerns over the Federal Reserve's independence and a U.S.-China trade war ease following remarks from President Trump, Commerzbank's Michael Pfister said in a note. Trump on

Writer and CNN host Fareed Zakaria, the moderator of a panel on the future of money, asked whether the U.S. dollar’s status is threatened, especially since “currencies are based on trust.” He and others pointed to the chaotic weeks since Trump’s April 2 announcement of steep taxes on imports on much of the world,