New York » The dollar resumed its slide Wednesday -- a day of soft equity markets -- as traders anticipate the European Central Bank and Bank of England will keep interest rates steady Thursday.

The dollar, considered a "safe-haven" currency, has tended this year to weaken as signs of recovery emerge from around the world and, alongside Treasurys, gain when markets wobble.

Upbeat economic news often helps equities, emerging-market currencies and other riskier investments.

The dollar didn't follow that pattern Wednesday, however. The Dow Jones industrials closed down 39.22 points.

The 16-nation euro hit a fresh high for the year at $1.4446 before edging down slightly to $1.4433 in late trading. The euro was worth $1.4387 Tuesday.

The British pound advanced to $1.7020 from $1.6919, peaking at $1.7042, a new 10-month high.

The dollar index, which values the dollar against a basket of currencies that includes the euro and yen, dropped to its lowest point since October.

Economists expect the European Central Bank and Bank of England to leave their interest rates unchanged at 1 percent and 0.5 percent, respectively.

Traders are also waiting to hear if the British central bank intends to expand or put a pause to its asset-purchasing operations, which expand the money supply. The potential that has for inflation can weigh on a currency. Better economic data out of Britain

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recently has put a damper on expectations that the bank may increase the program, said foreign exchange strategist Jessica Hoversen of MF Global.

Higher interest rates can support a currency as investors move funds into investments that earn higher returns.