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The euro strengthened near a 10-month peak on Wednesday after European Central Bank chief Mario Draghi implied the days of the ECB's aggressive stimulus will come to an end. The dollar was weighed down after the vote on the U.S. healthcare legislation was delayed.
The common currency stood $1.1338 after jumping 1.4 percent the previous day and touched a peak of nearly $1.1349, its highest level since late August 2016.
The rally comes after Draghi stated that deflationary forces has been replaced by reflationary ones. However, any change in the central bank's stance will be moderate as “considerable” monetary support is still essential while the rebound in inflation will rely on convenient global financing conditions, Draghi said.
According to traders, the euro can add to its gains in the near term.
The dollar recovers from its losses, having been under pressure overnight after U.S. Senate Republican leader Mitch McConnell delayed the vote on healthcare legislation.
Against the Japanese yen, the dollar edged up 0.1 percent to 112.18 yen.
The dollar index was flat at 96.443, after slipping around one percent the previous day.
