The US dollar maintained its strengthening momentum in the European session even though the gains recorded have stalled.
Several Federal Reserve (Fed) policymakers will be speaking today, and the individual most in the spotlight is Chairman Jerome Powell.
Before that, investors were given a preview of the speech by the President of the Chicago Fed, Charles Evans, who said the central bank's priority is to control inflation and sees interest rates reaching 4.25% - 4.50% at the end of this year.
This further strengthens investors' confidence in the central bank's hawkish stance and continued tightening.
Meanwhile, the pound remained a key focus for investors after it plunged to an all-time low following Prime Minister Liz Truss's new administration's rollout of the biggest tax cuts since 1972.
In response to the pound's fall, the Bank of England (BOE) tried to calm market concerns by saying they would follow market movements more closely.
The BOE will also make a full assessment at its next scheduled meeting of the impact on demand and inflation from the government's announcement and the fall in the pound.
Meanwhile, the euro traded hovering around record lows after European Central Bank (ECB) chief economist Philip Lane said a big rate hike meant demand would weaken.
