The dollar hovered just above 6-1/2-month lows on Wednesday, as traders' emphasis shifted from U.S. politics to monetary policy ahead of the launch of the minutes of the U.S. Federal Reserve's meeting in early May.

The dollar index .DXY, which tracks the buck against six main rivals, was down 0.08% to 97.273.The dollar has has had quite a beating over the last month, stated Minh Trang, senior currency trader at Silicon Valley Bank in Santa Clara, California.

You are viewing some relaxing down today as there's very little economic or headline news to actually sway the market one way or other.

Worries over U.S. President Donald Trump's recent firing of FBI Director James Comey, who was over-seeing a probe into possible links between the president's staff and Russia, and worries about possible delays in Trump's initiatives to apply his economic stimulus programs have recently pressured the dollar.

With Trump touring overseas there were less political headlines and traders dedicated to the Fed meeting minutes due to be introduced at 2 p.m. E.T. on Wednesday, Trang mentioned.

Fed futures are pinning a fairly large likelihood that there will be a rate hike in June. The emphasis is more on their strategy with regards to how you can manage that, he stated as well as the Fed's balance sheet.

Interest rate futures implied traders observed about an 83% chance of a rate increase in the Fed's June meeting.

The dollar was marginally lower against the euro, which has appreciated a bull operate this month on aspects including an ebb in French political issues and up-beat euro zone info.

The side effects of the European Central Bank's unconventional plan resources have remained contained, therefore there's no reason to deviate from your policy route previously laid down from the ECB, President Mario Draghi stated on Wednesday.