A gloomy start enveloped US dollar trading earlier in the week as investors awaited statements by Federal Reserve (Fed) Chairman Jerome Powell.
The currency king edged lower in the New York session after moving slowly in the previous two sessions.
This is shown by the dollar index which fell at 104.30 against a group of major currencies in the Asian session today.
Powell will testify before Congress on Tuesday and Wednesday about a semi-annual monetary policy report that may provide clues to the central bank's next policy direction.
The euro was among the strongest performers in the previous trading session, supported by higher European zone bond yields following hawkish remarks by European Central Bank (ECB) officials.
The swiss franc also strengthened after being shown by a higher-than-expected reading of Swiss inflation data in February.
The pound currency is still holding above the price of 1.2000 compared to the greenback despite showing erratic fluctuations in the previous session.
Alas for Asian currency trading, where the Aussie and New Zealand dollars each showed dismal performance following the government's forecast of moderate growth in the Chinese economy for this year.
China has set a target of 5% for its economic growth in 2023, the lowest forecast in more than 25 years.
Important for Aussie dollar investors today is the Reserve Bank of Australia (RBA) policy meeting which will take place at 11.30 this morning (Tuesday).
