NEW YORK (Dow Jones)-- The euro fell to session lows against the dollar after the open of U.S. stocks trading. The Dow Jones Industrial Average dropped on wavering sentiment, after the release of some disappointing second quarter earnings reports following a string of stronger company filings. The euro fell as low as $1.4155 Wednesday morning, after advancing to a six-week high of $1.4278 Tuesday. Slipping crude futures are also working to fade euro strength. The dollar is considered a safe-haven asset, and usually gains against the euro during periods of uncertainty. The yen gains against both the dollar and euro in the same way. Earlier, the euro fell to an intraday low of Y132.10 and the dollar declined to Y93.09. While stock moves will likely direct currency movement for the rest of the session, traders will be paying attention to the second day of Federal reserve Chairman Ben Bernanke's testimony to Congress. Wednesday morning in New York, the euro was at $1.4167 from $1.4197 late Tuesday. The dollar was at Y93.45 from Y93.66, according to EBS. The euro was at Y132.37 from Y133.01. The U.K. pound was at $1.6362 from $1.6436, and the dollar was at CHF1.0708 from CHF1.0683. Morgan Stanley's (MS) shares dropped after reporting that second-quarter income plunged 87% on charges related to mergers and its repayment of government funds and weakness at its wealth-management and institutional securities businesses. Wells Fargo & Co.'s (WFC) shares were also sold on reported mounting loan troubles, despite an 81% rise in earnings last quarter.

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