Tracking market movements in the European session, the US dollar remained weak at around one-month lows against its main rival.
Federal Reserve (Fed) Chairman Jerome Powell will make another appearance before the Senate Banking Committee tonight.
However, investors do not expect any surprises from the testimony which may be the same as his testimony yesterday.
However, the US unemployment claims data that will also be published in the New York session will be the focus of investors.
Looking at currency movements more broadly, the dollar index traded little changed at around 102.08 against a basket of major currencies.
Meanwhile, the pound currency, which will witness the Bank of England (BOE) policy decision tonight, continues to trade stable at the highest level in over a year.
Meanwhile, the euro remained strong at its strongest level in a month as prices continued to be supported by a weaker trading US dollar and a hawkish stance by the European Central Bank (ECB).
Additionally, commodity-related currencies the Aussie and New Zealand dollars are seen continuing to try to defend consolidation around their respective highs.
The Swiss franc was the focus of today's European session following the Swiss National Bank's (SNB) policy decision which raised interest rates by 25 basis points to 1.75%.
Although the SNB sounded hawkish, the currency was seen to fail to register an increase, instead trading slightly lower against the US dollar.
Elsewhere, the yen continued to trade bleakly at a seven-month low against the greenback amid a resurgence in US 10-year bond yields in the European session.
