The dollar also advanced against the Australian dollar, often seen as a proxy for Chinese investments because of Australia's pronounced trade links with China. The Aussie dollar fell 0.5 percent to US$0.7214.
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The dollar's relative strength was notable, but "it is the story about commodity currencies that is much more important," said Kathy Lien, managing director of BK Asset Management in New York.
The U.S. dollar rose sharply against the Canadian dollar, gaining 1.1 percent on the day to C$1.3125. The greenback hit its highest in two weeks against the Canadian currency after the Bank of Canada held interest rates steady, but lowered growth forecasts for 2016 and 2017.
The announcement from Canada's central bank was "weighing heavily on the loonie," Lien said, and "in New Zealand, dairy prices fell, hurting the New Zealand dollar. And generally speaking commodity prices are lower across the board."
Commodities led by oil took a pounding on Wednesday, with while U.S. crude prices hitting $44.86, their lowest levels since Oct. 2.
Against the South African rand, the dollar gained 1.7 percent at 13.5089. It was also 0.9 percent higher versus the Brazilian real at 3.9410 reais, edging closer to a 4-to-1 currency exchange rate with Latin America's biggest economy.
There was little change for the dollar, however, against the euro, as the currency pair continued their holding pattern in anticipation of Thursday's European Central Bank monetary policy meeting. Investors expect the ECB to keep interest rates steady and hold any announcement of further policy easing given Tuesday's solid batch of euro zone data.
The euro was last flat on the day at $1.1340.