The U.S. dollar rose against a basket of major currencies as investors focused on a European Central Bank meeting and the U.S. consumer price index report, both due on Thursday, to gauge the current pace of the economic recovery. "A further taper in QE is likely in July as the growth outlook improves further and becomes more certain," said Ryan Brecht, a senior economist at Action Economics. The price of oil, one of Canada's major exports, slipped on Wednesday after U.S. inventory data showed a surge in gasoline inventories.