The dollar crept higher against a basket of its major rivals on Wednesday ahead of a news conference by U.S. President-elect Donald Trump in which he is expected to lay out in more detail his plans for the economy.

The dollar index rose 0.2 percent to 102.18. The greenback staged an unexpected rally following Trump's surprise victory in the November election, but has shown signs of fading, as the index has gone from a 14-year peak of 103.82 touched on Jan. 3 to a low of 101.30 over the past week.

EUR/USD was down more than 0.2 percent to 1.0535 after brushing a 10-day high of 1.0628 overnight. USD/JPY traded 0.3 percent higher, above 116.00. It had suffered two days of losses against the safe-haven Japanese currency.

Forex pairs settled into a tight range ahead of Trump's news conference - his first since the election - which is due to start at around 1600 GMT.

Over the last couple of months, expectations that the Trump administration would enact economic stimulus measures backed by massive fiscal spending have driven Wall Street to record highs, U.S. debt yields to levels unseen since 2014 and the dollar index to a 14-year high.

Elsewhere in currency markets, cable dropped more than 0.2 percent to 1.2142 edging back towards a two-month low of 1.2107 set overnight against the greenback. Concern over Britain's terms for leaving the European Union have kept the currency under heavy pressure this week.

The Aussie nudged up to $0.7385 overnight, its highest since mid-December. The U.S. dollar's stall this week and rise in iron ore and coal prices have lifted the Aussie this week.