The US dollar held on to gains during the European session with investors' focus now turning to Federal Reserve (Fed) Chairman Jerome Powell's speech at the New York session.
Chairman Jerome Powell will participate in the discussion at the Economic Club of Washington DC.
Although investors do not have high expectations for Powell, any statement on his monetary policy may influence further USD movements.
Meanwhile, the Aussie dollar traded steady after the Reserve Bank of Australia (RBA) raised its interest rate by 25 basis points to 3.35% as expected.
The central bank also gave a hawkish statement on further increases in interest rates amid soaring inflation.
Following developments in European currencies, the euro remained trading gloomy around a 4-week low, while the pound sterling slipped lower against the US dollar.
Investors also paid attention to speeches from European Central Bank (ECB) and Bank of England (BOE) policymakers in the European session.
In the meantime, the yen continues to gain support to rise after the Japanese Ministry of Finance quietly confirmed intervention in the market last October.
