Fed Chair Janet Yellen spoke before the Committee on Financial Services on Wednesday about banking supervision and regulation. She also said that the Federal Reserve does not have a "fixed timetable" for interest rate moves.
Five other Fed officials will make public appearances on Wednesday, namely, Minneapolis Fed President Neel Kashkari, St. Louis Fed President James Bullard, Chicago Fed President Charles Evans, Cleveland Fed President Loretta Mester and Kansas City Fed President Esther George.
Earlier on Wednesday, Kashkari said that the U.S. central bank can keep interest rates low for longer because even though the economy is creating jobs at a "pretty healthy clip," there are no signs of inflationary pressures.
Meanwhile, U.S. economic data released on Wednesday included monthly durable goods orders, which came in unchanged. The Mortgage Bankers Association also reported weekly mortgage applications fell by 0.7 percent.
The dollar index, which measures the greenback against a basket of currencies, continued to gain on Wednesday, trading around 95.44 at 3:23 p.m. ET.