The U.S. dollar staged a tentative rebound 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,

Gold fell for a second day as the White House struck a softer tone on Federal Reserve independence and investors weighed Trump administration comments on trade.

The Trump administration is looking for an offramp from the trade war it started with China this month, calling its tariffs on Chinese goods unsustainable as major retailers warn the White House that U.