Earlier in the week, we questioned whether another jumbo Fed rate hike would be enough to satisfy dollar bulls.

The past few days have been rough for the dollar. It has weakened against every single G10 currency this week as investors cut bets on how aggressive the Federal Reserve may be when raising interest rates in July.

An uneasy calm settled over financial markets on Wednesday as investors anxiously awaited the latest US inflation data set to be released in the afternoon.

A sense of unease lingered in the air on Wednesday as recession fears, jitters around soaring inflation, and concerns about aggressive monetary tightening left investors on edge.