(Reuters) Wall Street edged higher on Wednesday but closed well off session highs and the dollar fell on the latest turmoil in Washington and U.S. Federal Reserve meeting minutes that showed worries about low inflation.
U.S. stocks got a boost from the Fed minutes but still ended below their highs. Sellers emerged when Trump disbanded two high-profile advisory councils after several CEOs quit to protest his comments about violence in Charlottesville, Virginia.
“This calls into question the ability of the Trump administration to get anything done in terms of tax and infrastructure reforms. It’s another piece of evidence of the administration’s mounting problems,” said John Doyle, Director of markets at Monex Consulting in Washington.
After touching its highest level in nearly three weeks earlier in the session, the U.S. dollar fell against a basket of rival currencies, after the business council news and the Fed minutes.
