The U.S. dollar increased against most major peers on Wednesday as investors were digesting the newly-released Federal Reserve minutes.

The U.S. central bank released the minutes from its January meeting on Wednesday. According to the minutes, the Fed officials see increased economic growth and an uptick in inflation as justification to continue to raise interest rates gradually.

"Almost all participants" saw inflation moving up to the Fed's 2 percent inflation goal over the "medium term" as growth "remained above trend and the labor market stayed strong," the minutes showed.

The dollar index, which measures the greenback against six major peers, increased 0.37 percent at 90.048 in late trading.

In late New York trading, the euro decreased to 1.2297 dollars from 1.2337 dollars in the previous session, and the British pound decreased to 1.3929 dollars from 1.3988 U.S. dollars in the previous session. The Australian dollar was down to 0.7816 dollar from 0.7879 dollar.

The U.S. dollar bought 107.79 Japanese yen, higher than 107.29 Japanese yen of the previous session. The U.S. dollar was down to 0.9348 Swiss franc from 0.9359 Swiss franc, and it rose to 1.2689 Canadian dollars from 1.2642 Canadian dollars.