The dollar steadied on Thursday after posting its biggest one-day gain since early June on Wednesday, as traders awaited comments from senior Federal Reserve officials later in the day for clues on the pace of interest rate cuts.

The US currency rose sharply overnight from a more than one-year low against the euro and a two-and-a-half-year low against the pound.

Despite the lack of a clear catalyst for a recovery, investors appeared to have taken a more nuanced view of how much U.S. interest rate cuts might be needed in the future because Federal Reserve officials this week failed to offer a unified view on the next steps.

Federal Reserve Chairman Jerome Powell will deliver a pre-recorded speech at a conference in New York later Thursday, while New York Fed President John Williams will also speak. Boston Fed President Susan Collins and Fed Board of Governors Michelle Bowman and Lisa Cook are also scheduled to speak at various events.

Traders are also awaiting weekly U.S. jobless claims data due later on Thursday as the Federal Reserve shifts its focus to employment rather than inflation.

According to the CME Group's FedWatch service, traders still expect a 57.4 percent chance of a second large 50 basis point rate cut at the Fed's next meeting in November, compared with 58.2 percent the day before.

The dollar index, which measures the greenback's performance against the euro, pound, yen and three other major currencies, was down 0.10 percent at 100.84 by 0444 GMT after rising 0.57 percent on Wednesday, its biggest daily gain since June 7.

The euro was little changed at $1.1143 after falling sharply from its highest level since July last year, which was $1.1214.

The pound sterling settled at $1.33425 after rising to $1.3430 on Wednesday for the first time since February 2022.

The yen fell to a three-week low of 145.04 against the dollar and was last at $144.77.

The Australian dollar rose 0.37 percent to $0.6848 after falling sharply on Wednesday from a 19-month high of $0.6908.

The Chinese yuan gained slightly to 7.0149 against the dollar in offshore trading after retreating on Wednesday from its highest level since May last year at 6.9952.

The Swiss franc was little changed at 0.8498 against the dollar.