The dollar strengthened on Wednesday as investors awaited the Federal Reserve’s meeting minutes for clues on the future of interest rates, while the British pound stabilized following data showing a drop in UK inflation in April. Despite a milder U.S. inflation reading last week, Fed officials remain cautious, with Governor Christopher Waller and President Loretta Mester indicating a need for more consistent data before considering rate cuts. The upcoming Fed minutes are expected to shed light on the central bank’s stance regarding inflation and potential rate adjustments.