The U.S. dollar weakened against other major currencies in the Asian session on Wednesday, as investors await U.S. President Donald Trump's decision on the leadership of the Federal Reserve.

Investors ponder over the likely successor of Fed Chair Janet Yellen, whose term ends in February.

Speculation rose that U.S President Donald Trump's decision for the next U.S. Federal Reserve chair may be a less hawkish candidate than previously thought.

Investors also wait for speeches by Federal Reserve officials, the U.S. nonfarm payrolls report, foreign exchange reserves data from China, and minutes of the last ECB meeting this week for further direction.

Meanwhile, some believe that Fed would hike interest rates in December.

In the Asian trading, the U.S. dollar fell to 2-day lows of 1.1779 against the euro, 112.48 against the yen, and 0.9709 against the Swiss franc, from yesterday's closing quotes of 1.1744, 112.84 and 0.9736, respectively. If the greenback extends its downtrend, it is likely to find support around 1.20 against the euro, 109.00 against the yen and 0.95 against the franc.

Against the Canadian dollar, the greenback dropped to a 5-day low of 1.2457 from yesterday's closing value of 1.2485. The greenback may test support near the 1.22 region.

The greenback edged down to 1.3273 agianst the pound, from yesterday's closing value of 1.3236. On the downside, 1.36 is seen as the next support level for the greenback.

Looking ahead, PMI reports from major European economies for September and Eurozone retail sales data for August are due to be released later in the day.

In the New York session, U.S. ADP private sector jobs data for September, U.S. markit's PMI for September, and U.S. crude oil inventories data are slated for release.

At 1:15 pm ET, European Central Bank President Mario Draghi is scheduled to deliver opening remarks at the Inauguration of the ECB Visitor Center, in Frankfurt.

At 3:15 pm ET, Federal Reserve Chair Janet Yellen will deliver opening remarks at a community banking conference hosted by the Federal Reserve Bank of St. Louis.

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