The British pound , which earlier in the week hit a seven-week top against the dollar, was last some distance away at $1.2286.
Focus now turns to a speech by Fed Chair Powell later on Wednesday.
The euro fell 0.07% to $1.0691, further weighed by a darkening growth outlook in the euro zone.
"The mixed outlook for consumer and investment spending leaves the euro zone very close to recession," said Wells Fargo economist Nick Bennenbroek.
"Regardless of whether the euro zone falls into recession, we see enough growth headwinds to suggest that the European Central Bank's monetary tightening is done."
Persons:
Jerome Powell, Matt Simpson, We're, Powell, Simpson, Wells, Nick Bennenbroek, Luci Ellis
Organizations:
Federal Reserve, U.S, U.S ., Central, Australian, Reserve Bank of Australia, New Zealand