The U.S. dollar was bullish on Wednesday, lifted by Janet Yellen’s comments on the need to continue with rate hikes. The Federal Reserve Chair said it would be “imprudent” to keep monetary policy on hold despite an uncertain inflation trajectory. Meanwhile the euro licked the wounds from political uncertainty following the German election at weekend.

The dollar's index against a basket of six major rivals rose to 93.22 overnight, not far off its highest level in almost a month, at 93.286 hit the previous day.

U.S. interest rate futures reflected the tone to price in about 70 percent chance of a rate hike by December compared to near 60 percent on Monday.

USD/JPY rose to 112.83, bouncing back from Tuesday's low of 111.50, breaking above last week's two-month high of 112.725.

EUR/USD slipped to 1.1741, surpassing yesterday’s five-week low of 1.17575. The euro weakened against other currencies. EUR/GBP hit a 10-week low of 0.87545 and two-week low of 1.14075 Swiss franc.

Tonight, the RBNZ are expected to hold New Zealand Official Cash Rate at 1.75 percent and the central bank is predicted to continue its watchful and neutral stance.

BOC Gov Poloz will speak at 1745 CET. FOMC Member Brainard will speak at 2000CET about "Labor Market Disparities and the Mission of the Federal Reserve."