The dollar sank to its lowest level of the year against the euro on Wednesday as traders prepared for potentially crucial revisions to U.S. employment data later in the day, ahead of a speech by Federal Reserve Chairman Jerome Powell at the end of the week. This trend has spread to other currencies.

The US currency also fell below the closely watched 145 yen level and hovered near the lowest level in over a year against the pound sterling hit overnight.

The euro hit $1.131, its highest level since December 28.

The US dollar index - which measures the currency against the euro, sterling, yen and three other major rivals - hit a new low since January 2 at 101.34 at 00:26 GMT on January 2, after falling by 0.5% or more in each of the three previous sessions.

Sterling settled at $1.3033 after reaching a high of $1.3054 on Tuesday, a level last seen in July last year.

Against the Japanese currency, the dollar fell by 0.2% to 144.98 yen, after previously plunging to 144.945 yen, breaking under the psychological barrier of 145 yen for the first time since August 6.

The Australian dollar is hovering just below the monthly high of $0.6749 reached on Tuesday. The New Zealand dollar rose to $0.61585, marking a new high since

The Indian rupee is expected to open without much change on Wednesday. The 1-month undeliverable futures contract indicated that the rupee would open unchanged from 83.7925 in the previous

The South African rand was down in early trading on Wednesday, before the publication of a local inflation figure that could give indications on the future trajectory of interest rates in Africa's most industrialized economy. At 06:42 GMT, the rand traded at 17.83 against the dollar, about 0.2% lower than at the close on

The Russian ruble weakened slightly against the Chinese dollar and yuan on Wednesday in a sluggish market. At 07:45 GMT, the ruble was down 0.6 percent to 91.65 per dollar, according to LSEG

One-day ruble-dollar futures contracts, traded on the Moscow Exchange and used as a benchmark for over-the-counter market rates, fell by 0.14% to 89.87. The official central bank exchange rate, calculated using over-the-counter data, was set at 90.69 per dollar