The greenback extended intra-day losses against most of its counterparts (except the Japanese yen) on Wednesday after the Federal Reserve kept interest rates unchanged in a range of 0-0.25% as widely expected and said that rates would stay there for an 'extended period'. The Fed stated that U.S. economic activity has continued to pick up but it would remain weak for a time despite policy actions helped. In addition, a report showed that U.S. private employers shed 203,000 jobs in October, fewer than a revised 227,000 jobs lost in September fm 254,000 originally reported. U.S. ISM non-manufacturing index came in at 50.6 in October, lower than economists' forecast of 51.5 n 50.9 in September.

Despite euro's initial brief drop after the Fed's announcement, buying interest on dips then pushed the single currency to as high as 1.4910 versus the dollar. However, the pair later retreated from there as the DJI pared its early gains, increasing dollar's safe-haven appeal. Earlier in European session, German and eurozone service PMI came in at 50.7 and 52.6 versus the expectation of 50.9 and 52.3 respectively.

Earlier in the day, cross buying in sterling vs yen n euro gave cable a boost. The British pound extended intra-day upmove to a high of 1.6545 after the release of higher-than-expected U.K. CIPS services PMI which came in at 56.90 in October versus economists' forecast of 55.50 and well above previous reading of 55.30 in September. Cable's rally accelerated after Fed's rate decision and hit as high as 1.6598 before easing.

New Zealand unemployment rate came in at 6.5% in Q3, slightly higher than economists' expectation of 6.4%. Nzd/usd briefly dropped from 0.7260 to around 0.7221 after the release of the data.

Data to be released on Thursday include Australia trade balance, Switzerland CPI, U.K. industrial production, manufacturing production, eurozone retail sales, ECB rate decision (economists are expected to keep rate unchanged at 1.005%)., U.K. rate decision (economists forecast BoE will keep rate at 0.50%), Canada building permits and Ivey PMI, U.S. jobless claims.