The US dollar traded steady in the European session as investors turned their attention to the release of US gross domestic product (GDP) data.
Earlier, the giant currency gained strength following the report of the minutes of the FOMC meeting which showed that the Federal Reserve (Fed) will continue to raise interest rates.
Against a basket of major currencies, the dollar index traded little changed around 104.45 at the start of the European session.
Heading into New York session trading, investors will be treated to a second reading of US GDP for the fourth quarter of 2022 which is expected to grow 2.9%, the same as predicted in the previous first reading.
Looking at currency movements more broadly, the euro remained trading weak at a 6-week low following the decline recorded after the FOMC minutes were released.
The pound traded slightly lower, still maintaining its position above the price level of 1.2000 against the greenback.
Moving to commodity-related currencies, the Aussie and New Zealand dollars traded flat after showing little change following the Fed meeting minutes.
The New Zealand dollar retained support gained from the central bank's previous decision to raise rates by 50 basis points and signaled further tightening.
Meanwhile, the Canadian dollar also remained trading lower after being hit by a drop in Canadian inflation that continued in January, giving reasons for the central bank to slow its tightening.
