The US currency continues to dwindle down today as Federal Reserve's Chair Janet Yellen commented on the current inflation; according to the Yellen, investors may want to lower their expectations of the expected fast-paced rate hikes.
The Q&A portion of Wednesday's hearing was heavily focused on regulation.
Having kept interest rates at a historically low 0.25 percent for seven years after the financial crisis, Yellen began hiking the key rate last December, and two further increases have followed.
U.S. stocks rose after Ms Yellen's testimony was published - with the exception of those in the financial sector, which typically benefit from higher interest rates.
The Chinese yuan rose 0.2 per cent, reflecting a broadly weaker dollar and a higher mid-point set by the People's Bank of China.
Futures for the Dow Jones Industrial Average climbed 19 points to 21,502.00, while the Standard & Poor's 500 index futures rose 3.75 points to 2,443.75.
However, the core consumer price index (CPI) is forecast to have risen only 1.7 per cent year-on-year in June after a similar gain in May.
Paul Ashworth, chief economist at Capital Economics, says it makes sense for Yellen to keep her options open, giving the Fed time to assess more economic data before making its next move.
MSCI's gauge of stocks across the globe gained 0.90 percent while the pan-European FTSEurofirst 300 index of leading regional shares rose 1.64 percent and emerging market stocks rose 1.10 percent.
The Fed has targeted a neutral interest rate level that neither encourages nor discourages economic activity, and has remained wary about the effect rate rises would have on relatively fragile growth.
Oil prices wavered early Wednesday, but recovered after a report showing that US crude-oil inventories declined sharply last week. The dollar slipped and U.S. Treasury yields fell after Yellen's comments in what may be one of her last appearances before Congress.
The tightening cycle by numerous developed world's central banks is expected to gain further momentum Wednesday from the Bank of Canada, which is expected to hike interest rates.
A report released by the Labor Department on Thursday showed a modest increase in United States producer prices in the month of June.
Italian bond yields faced slight upward pressure ahead of a government bond auction later in the day, while other euro zone yields were steady to 1 basis point higher on the day.