Global equity markets and the dollar slipped today as investors sought the safety of less risky assets as jitters increased over the likelihood of averting a Greek debt default.

The dollar slid after hitting its highest in more than a week on Tuesday, while yields on U.S. 10-year Treasuries dipped as investors weighed the prospect of higher U.S. interest rates.

But the outlook for the dollar remained upbeat despite its decline on Wednesday after another round of generally positive data this week. The data supported the view that U.S. rates were likely to rise sooner than later, mostly likely in September.

The Commerce Department said gross domestic product fell at a 0.2 percent annual clip in the first quarter, instead of the 0.7 percent pace of contraction it reported last month.

U.S. Treasuries prices earlier rebounded from a two-day selloff after late-stage debt negotiations between Greece and its international creditors hit a roadblock, crimping optimism for a deal and driving demand for safe-haven bonds.

"We are getting to the point where it's do or die, take it or leave it, and I think what you're seeing today is that there's growing fear that this thing is not going to come together," said Justin Hoogendoorn, fixed income strategist at BMO Capital Markets in Chicago.

The price of benchmark 10-year Treasury notes traded just below break-even, retreating from early gains, to yield 2.4141 percent. Lingering optimism for a Greek debt deal limited the price gains and prevented yields from falling below recent ranges.

The dollar fell against the euro, with the single currency up 0.14 percent at $1.1185. The dollar index was down 0.01 percent at 95.424.

MSCI's all-country index, a gauge of stock performance in 46 countries, fell 0.08 percent, while the pan-European FTSEurofirst 300 index fell 0.16 percent to 1,580.83.

U.S. stocks were mixed. The Dow Jones industrial average fell 26.09 points, or 0.14 percent, to 18,117.98. The S&P 500 slid 0.75 points, or 0.04 percent, to 2,123.45 and the Nasdaq Composite added 1.11 points, or 0.02 percent, to 5,161.20.

Oil held above $64 a barrel before a U.S. government report expected to show domestic crude inventories fell for an eighth week, a sign that a supply glut is easing.

The industry group American Petroleum Institute (API) on Tuesday reported a drop in U.S. crude stocks, ahead of Wednesday's official data. Doubts over the likelihood of a deal next week on Iran's nuclear work also supported prices.

Brent crude rose 12 cents to $64.57 a barrel, while U.S. crude gained 26 cents to $61.27 a barrel.