The dollar rose to a three-week peak against the on Friday ahead of a speech from Federal Reserve Chair Jerome Powell.
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The German Chancellor said a Brexit backstop solution could be found before the Oct. 31 deadline. The pound, sensitive to the prospect of a ‘no-deal’ exit, jumped more than 0.5%.
The euro struggled to make headway against a resilient dollar on Wednesday as attention shifts to Fed. Forex markets remained mostly calm ahead of a crucial meeting of central bankers later this week.
As Brexit talks tensions rise, the pound dived towards near three-year lows against the euro on Tuesday. The UK headed towards a showdown with the European Union over Brexit negotiations.
The euro gains on Monday after registering its biggest weekly drop in nearly two months. Risk appetite gradually returned to global markets after a week of turmoil.