The single currency trimmed gains after Euro zone inflation unexpectedly slipped in April, while Euro zone bond yields hit two-week lows.

However, a breakthrough was viewed as highly unlikely, especially as the U.S. embassy said the delegation would leave as early as Friday evening.

The Chicago Mercantile Exchange's FedWatch website, which monitors trading on futures contracts tied to the central bank's benchmark rate, on Wednesday listed the odds of a rate hike next month at 100%, including a 9% chance that the Fed would raise by more than its usual adjustment of 0.25 percentage points.

Where the US Dollar could head from here is a tough question to answer, especially when you consider how stunned most investors were by the unexpected turnaround in Dollar momentum over the past couple of weeks.

Markit themselves called the activity growth "subdued", admitting it was unlikely to persuade investors that the Bank of England (BoE) will move to raise interest rates at next week's Monetary Policy Committee meeting. Fears over a widening account deficit, inflation more than double the central bank target and an ongoing reoccurrence of political risk is going to continue discouraging traders from purchasing the Turkish Lira at its historic low levels. The rate stood at 9.4% in March 2017.

And Fed participants have discussed tolerance for an overshoot on inflation, not that numbers are near its 2% target.

Eurozone HICP inflation fell back to just 1.2% year over year in April, from 1.3% year over year in the previous month. It raised rates once in 2016, but lifted borrowing costs three times last year amid a strengthening economy and labor market although that has started to fade this year with Friday night's jobs report a key indicator.

It's probably too soon for officials to have reached firm conclusions on this front. A fresh 204,000 workers were added to the economy last month, exceeding the 190,000 jobs the data expected to see. The jobless rate held steady at 8.5% in March, the lowest since December 2008.

Trade policy is another wild card.

In a post to Twitter, President Donald Trump said, ?Our great financial team is in China trying to negotiate a level playing field on trade!? "Tax reform, however, was expected to mitigate that typical pattern".

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