Following the continued weakness noted, the US dollar seems to have found support to rise slightly in today's trading session.
This was reflected in the increase in the dollar index which traded steady at 102.66 against a group of major currencies at the opening of the European session.
The Aussie dollar continued to be affected by Australian inflation data readings which showed a decline in February had strengthened expectations for the Reserve Bank of Australia (RBA) to halt rate hikes.
Australian consumer prices rose 6.8% year-on-year last month, down from 7.4% recorded in January.
Meanwhile, the New Zealand dollar trade also followed the decline of the Aussie dollar amid the revival of the US dollar.
The European currency, the euro, is holding on to gains with prices seen to continue to move flat against the greenback.
The pound, on the other hand, struggled to hold on to a 7-week high against the USD, seeing it little changed around 1.2320.
The yen unfortunately fell lower due to the higher US dollar and 10-year US treasury yield.
Bank of Japan (BOJ) Governor Haruhiko Kuroda said that Japan is closer than ever to achieving the 2% inflation target on a sustainable basis.
It indirectly signals that the central bank will continue to implement a loose policy.
On the other hand, the Canadian dollar traded stronger amid higher global crude oil prices.
