Investors continued to shed their hold on the US dollar in the European session, seeing the currency king slip lower against its main rival.
At the time of writing, the dollar index, which measures the greenback's strength against six major currencies, was trading lower at 100.60.
The Federal Reserve (Fed) has raised its interest rate to a 22-year high in the range of 5.25%-5.50% and left the 'door' open for future hikes.
However, it is different from the market reaction which sees that the central bank is nearing the end of the tightening cycle.
United States gross domestic product (GDP) data tonight will be the focus of the market which expects the economy to grow by 1.8% in the second quarter following 2% growth in the first quarter.
Heading into the New York session, investors' focus is also on the European Central Bank's (ECB) policy meeting and the follow-up speech from President Christine Lagarde.
The European session saw the euro surge higher at around 1.1136 ahead of the meeting, supported by a weaker greenback.
In the meantime, the pound continued to strengthen, approaching the price level of 1.3000 against the greenback.
While commodity-related currencies, the Aussie, New Zealand and Canadian dollars continued to maintain gains against the US dollar despite a slight decline in the beginning.
The yen remained stable with prices trading below the 140.00 level ahead of the Bank of Japan (BOJ) decision on Friday.
