The U.S. dollar dropped against its major opponents in early European deals on Wednesday.

The greenback reversed from its early highs of 1.2241 against the euro and 1.3997 against the pound, dropping to 1.2291 and 1.4043, respectively.

The greenback edged down to 0.9520 against the Swiss franc and 106.25 versus the yen, off its early highs of 0.9566 and 106.55, respectively.

The next possible support for the greenback is seen around 1.24 against the euro, 1.43 against the pound, 104.00 against the yen and 0.93 against the franc.

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