3 Fed policymakers will speak at the New York session
USD declines, major currencies rise slightly
The US dollar posted a slight decline in the European session amid the absence of key economic data to spur aggressive market moves.
The latest statement from the Chairman of the Federal Reserve (Fed) Jerome Powell has previously caused uncertainty in the market which has seen currency volatility.
This followed his comments on inflation starting to decline, but at the same time also warned of raising interest rates higher than expected if data showed inflation remained high and employment strong.
Further remarks from other policymakers will be in focus for investors in the New York session, which will feature New York Fed President John Williams, Atlanta Fed President Raphael Bostic and Minneapolis Fed President Neel Kashkari.
Several other major currencies showed gains following the decline of the greenback dollar.
The Aussie dollar continued its gains following the Australian central bank's policy decision on Tuesday which raised interest rates by 25 basis points while offering hawkish remarks for further hikes.
The euro and pound also rose slightly but were still hovering around weekly lows against the US dollar.
Additionally, the yen remains benefiting from support from the Japanese Finance Minister's statement regarding his intervention into the market.
Meanwhile, the Canadian dollar rose even after Bank of Canada (BOC) Governor Tiff Macklem said there would be no more interest rate hikes if inflation continues to decline as predicted.
