The greenback edged up on Wednesday, buoyed by safe-haven inflows following the detention of President Tayyip Erdogan's main political opponent by Turkish authorities, the Turkish lira fell sharply.

The dollar index that gauges the greenback versus its major pairs ticked up by 0.3% higher to 103.215, rebounding from a five-month low.

Recently, the US dollar has faced difficulties due to worries that the uncertainty surrounding U.S. President Donald Trump’s extensive tariffs will negatively impact future economic activity.

Focus will soon shift to the conclusion of the Federal Reserve's two-day policy meeting later in the session, where the central bank is anticipated to keep interest rates steady.

EUR/USD edged down by 0.4% lower at 1.0899, the pair gave back some of its recent strong gains after reaching a five-month peak, bolstered by Germany's outgoing parliament approving a plan for a significant increase in spending.

GBP/USD dipped 0.2% to 1.2974, however it stays close to the four-month peak above 1.30 reached in the previous session.

USD/JPY advanced by 0.3% to 149.85, following the Bank of Japan's decision to keep its short-term interest rate at 0.5% on Wednesday.