The U.S. dollar edged off multi-year lows against major peers on Wednesday though remained under pressure as traders considered the potential impact of President Donald Trump's spending bill, and looming tariff deadlines.

Global stocks edged higher and the dollar was pinned near a three-year low on Wednesday as investors pondered the prospect of U.S. interest rate cuts and the scramble for trade deals ahead of President Donald Trump's July 9 deadline for tariffs.

The greenback held steady at 0.7906 Swiss franc, after dipping as low as 0.7873 franc in the previous session. The euro was flat at $1.1802, sticking close to the overnight peak of $1.1829. Sterling edged up slightly to $1.37435, approaching Tuesday's high of $1.3787, a level last seen in October 2021.