Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate at 6.4754 per dollar, 41 pips or 0.06% softer than the previous fix of 6.4713, and the weakest since Jan. 28.
"A clear action plan on the top priorities would be more important for the market to evaluate the impact on industries and the whole economy," said Iris Pang, Greater China economist at ING.
On Wall Street, the Dow ended flat at 31,494.32 while the broad-based S&P 500 ended down 0.2 percent and the tech-rich Nasdaq index finished up 0.1 percent.
Joe Biden will attend his first meeting as US president with Group of Seven leaders on Friday to discuss plans to defeat the novel coronavirus, reopen the battered world economy and counter the challenge posed by China.
"Rising US yields have stopped the dollar from declining for now," said Osamu Takashima, the Tokyo-based head of G10 FX strategy at Citigroup Global Markets Japan.
The British pound held firm at $1.3895, having reached its highest level since April 2018 on Tuesday. Against the euro, the pound traded at its highest level since early May at 87.02 pence per euro.
Toyota climbed 3.48 percent to 8,413 yen after it announced plans to sell electric vehicles in the US market, seen as a key step in its shift towards EVs.
