Dollar Strengthens Ahead of US Inflation Data Release

The US dollar strengthened in Asian trade on Wednesday as markets eagerly awaited the release of inflation data that could provide clues for the Federal Reserve's next move.

The greenback nudged higher against its major counterparts, with the yen reaching its softest levels of the month at 159.44 yen and the euro slipping to $1.1534.

The British pound remained unchanged at $1.3505, while the Australian dollar fell by 0.1 percent to $0.7056. The kiwi dollar was also weaker, down 0.3 percent at $0.5866.

In cryptocurrencies, Bitcoin was flat at $63,721.02, and Ethereum rose by 0.3 percent to $1,887.13.