The greenback ticked up on Wednesday, rebounding from nearly the lowest level in 11 weeks, the market reflected a recovery in U.S. Treasury yields, driven by weak economic figures and uncertainty surrounding President Donald Trump's tariff proposals.

On Tuesday, the U.S. dollar weakened following consumer confidence data for February that fell short of expectations, heightening worries about a slowdown in private consumption. As a key pillar of the U.S. economy, consumer spending remains under pressure from Trump's tariffs, persistent inflation, and rising food costs.

Market traders speculated that a slowing U.S. economy would push the Federal Reserve toward interest rate cuts, a development unfavorable for the dollar.

However, analysts pointed out that ongoing uncertainty surrounding the effects of Trump's tariffs could prompt the Fed to take a cautious approach in implementing interest rate cuts this year.

The dollar index that gauges the greenback versus its major pairs added 0.2% to 106.55, bouncing back after hitting their lowest level since early December on Tuesday.

EUR/USD plunged by 0.2% to $1.0490.

GBP/USD dipped 0.1% to $1.2663.