On the other hand, the Australian dollar dropped as much as 0.45% before erasing some losses to trade at $0.7766, after the Reserve Bank of Australia re-committed to keeping interest rates at historic lows.
The British pound held firm at $1.3895, having reached its highest level since April 2018 on Tuesday. Against the euro, the pound traded at its highest level since early May at 87.02 pence per euro.