Shares in Europe were set to open lower on Wednesday as global sentiment was weighed by a sharp reversal of Wall Street stocks in the previous session.
Asian markets were under pressure after US shares retreated from record highs on Tuesday. The Dow hit the 26,000 benchmark — only a few days after breaking the 25,000 line. However, it also recorded its biggest one-day reversal in nearly a year.
The US dollar slipped to a three-year low against its major rivals on Wednesday, giving up its earlier gains as the euro climbed back after shaking off a setback to Chancellor Angela Merkel's chances of forging a "grand coalition" in Germany.
The dollar index last stood little changed at 90.44 after touching below 90, its lowest since December 2014.
EUR/USD trades off its highs below 1.2230, a quarter percent lower. The pair hit highs of 1.2323 overnight, its strongest since December 2014. Euro area CPI data today is keeping euro strength in check.
USD/JPY was just above 0.2 percent higher at 110.75, clawing back towards a high of 110.985 hit on Tuesday. It fell to a four-month low of 110.245 on Monday amid speculation that the BOJ could eventually begin looking for a way out of its super accommodative policy.
Cable climbed as high as 1.3836, its strongest since June 2016. It last stood just lower on the day at 1.3780.
With the Bank of Canada’s monetary policy decision today, USD/CAD traded at 1.2445 just 0.10 percent higher on the day.
