Dollar falls as China move seen delaying Fed rate hike

The dollar fell against the euro and other currencies Wednesday on speculation that the US Federal Reserve will delay hiking interest rates following China's devaluation of the yuan. "The dollar took it on the chin," said Joe Manimbo, senior market analyst at Western Union Business Solutions. "China's cheapening of its currency opened a messy can of worms for markets and suggested the global economy may be worse off than previously thought," Manimbo said.