Ahead of important employment statistics, the greenback somewhat declined in early European trade on Wednesday, although it was still close to a two-week high. Meanwhile, the euro declined due to dismal German manufacturing orders.

The dollar index that gauges the greenback versus its major pairs, edged down by 0.1% at 103.925, post advancing by 0.3% overnight.

The U.S. economy has been slowing down recently, according to data, but there are still indications that a soft landing is expected.

In October, U.S. job vacancies reached a 2-1/2-year low, according to data released on Tuesday. This is the clearest indication yet that the demand for labor was being tempered by higher interest rates.

EUR/USD ticked down by to 1.0794, near the three-week low reached on Tuesday, following a steep decline in German manufacturing orders in October of 3.7% for the month following a 0.7% increase the earlier month.

GBP/USD edged up 0.1% to 1.2604, prior to the publication of the most recent financial stability report from the Bank of England.

USD/JPY advanced by 0.1% to 147.21, stabilizing following recent sessions in which the yen posted a notable comeback versus the dollar.