In the broader currency market, the dollar reacted modestly against a basket of currencies, despite an upward revision of third quarter gross domestic product (GDP) in the U.S and November consumer confidence coming in above expectations.
The second read on third-quarter GDP came in at an annualized rate of 3.2 percent, above a previous reading of 2.9 percent, while the consumer confidence index was at 107.1.
Analysts said Tuesday's economic data stateside further make the case for the U.S. Federal Reserve to hike interest rates at its upcoming December policy meeting. Higher rates also usually lead to a stronger dollar.
The dollar index climbed in the afternoon session in Asia on Wednesday to trade at 101.11, up from an earlier low of 100.84. The index was still down from levels near 102.00 reached in the previous week.
Kathy Lien, managing director of foreign exchange strategy at BK Asset Management, said in a note that while the dollar uptrend was still intact, "the mighty buck (was) having a difficult time extending its gains beyond last week's highs."
The Chinese yuan was stronger against the dollar, trading at 6.8858, climbing from its previous close at 6.8933. The Korean won traded at 1,167.88 against the greenback, up from levels near 1,172 in the previous session.
The yen, however, still weakened against the greenback to reach a session high of 112.96, falling from Tuesday's levels near 111.98.
In company news, Samsung shares rose 3.7 percent to 1,739,000 won to a record high following its Tuesday announcement that it planned to return 50 percent of its free cash flow to shareholders in 2016 and 2017. Reuters reported the Korean electronics giant added $9 billion to its market value on Wednesday.
Meanwhile, on Tuesday the Dow Jones industrial average rose 23.70 points, or 0.12 percent, to close at 19,121.60, while the S&P 500 gained 2.94 points, or 0.13 percent, to end at 2,204.66. The Nasdaq advanced 11.11 points, or 0.21 percent, to close at 5,379.
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