The U.S. dollar traded mixed to lower against the most major currencies after the mixed U.S. economic data. New home sales declined 0.2% to a seasonally adjusted annual rate of 481,000 units in January from 482,000 units in December, the highest level since June 2008.

December's figure was revised up from 481,000 units.

Analysts had expected new home sales to reach 477,000 units.

The decline was driven by weaker sales in the Northeast.

The mortgage delinquency rate fell to 5.68% in the fourth quarter from 5.85% in the third quarter. That was the lowest reading the third quarter of 2007.

The Fed Chair Janet Yellen testified before the House Financial Services Committee on Wednesday. Her remarks were identical to yesterday's remarks.

Yesterday's comments by the Fed Chair Janet Yellen weighed on the greenback. Yellen testified before the Senate Banking Committee in Washington on Tuesday. She said it is unlikely that the Fed will raise its interest rate in "the next couple of FOMC meetings".

The euro traded higher against the U.S. dollar. Concerns over Greek bailout programme still weighed on the euro.

The European Central Bank President Mario Draghi will speak at 16:30 GMT0.

The British pound traded higher against the U.S. dollar. The number of mortgage approvals increased to 36,700 in January from 35,800 in December, exceeding expectations for a rise to 36,200. December's figure was revised up from 35,700.

The Bank of England (BoE) Governor Mark Carney said nothing about the monetary policy at today's launch of the One Bank Research Agenda.

The Swiss franc traded mixed against the U.S. dollar. Switzerland's UBS consumption indicator decreased to 1.24 points in January from 1.42 points in December.

The New Zealand dollar traded mixed against the U.S. dollar. In the overnight trading session, the kiwi rose against the greenback after the better-than-expected Chinese preliminary manufacturing PMI. Chinese preliminary manufacturing PMI increased to 50.1 in February from 49.7 in January, beating expectations for a decline to 49.6.

The Australian dollar traded mixed against the U.S. dollar. In the overnight trading session, the Aussie increased against the greenback after the mixed economic from Australia. Wage price index in Australia rose by 0.6% in the fourth quarter, missing expectations for a 0.7% gain, after a 0.6% increase in the previous quarter.

Construction work done in Australia fell 0.2% in the fourth quarter, beating expectations for a 0.8% decline, after a 2.8% drop in the third quarter. The third quarter's figure was revised down from 2.2% decrease.

Chinese preliminary manufacturing PMI supported the Aussie.

The Japanese yen traded mixed against the U.S. dollar. In the overnight trading session, the yen traded higher against the greenback in the absence of any major economic reports from Japan.