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As a U.S. inflation test looms, the dollar has risen from its lows.

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On Wednesday, the dollar held above nearly two-month lows against key peers, ahead of data expected to indicate a new increase in US inflation, which might clinch the case for a rate hike sooner than expected.

On Tuesday, Federal Reserve Chair Jerome Powell gave no indication that the Fed was in a hurry to tighten monetary policy, putting negative pressure on the greenback, which has gained from anticipation of a rate hike in the United States in recent weeks.

As the December U.S. consumer price index (CPI), which is expected out at 1330 GMT, loomed, the currency began to rise once more.

The dollar index was last trading at 95.643, unchanged for the day after hitting a low of 95.533 during the Asian session, the lowest since November 18.