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.

Stocks were holding onto sizable gains Wednesday as many investors cheered the possibility trade talks between the United States might at least start. At the same time, President Trump's announcement he wouldn't try to remove Federal Reserve Chairman Jerome Powell cheered the market,