The greenback saw a slump on Wednesday while the appetite on Yen edged up on claims that the Japanese authorities are willing to alter the inflation goal.

The dollar index dipped by 0.3% at 104.035.

USD/JPY dropped by 0.6% to 135.84 post the announcement of the Japanese press earlier on the weekend that the Prime Minister is taking into an account to release a report along with BOE by the upcoming year, which may show more resilience towards the 2% inflation target.

The Bank of Japan is scheduled to have its last meeting for 2022 today where it is quite predicted to keep the interest rates at low levels. Although, eyes will be kept on any potential changes.

Altogether, Fed, ECB, BOE and SNB hiked the rate by 50 bp during the earlier week and implied for more raises that could be needed to tame the high inflation.

EUR/USD advanced by 0.5% at 1.0634 before the figures of the German IFO business climate index for December. Predictions revolve around an enhancement of 87.4 from 86.3 after the release of the PMI figures during the earlier week.

GBP/USD jumped by 0.5% at 1.2203, as the pound retreated by 1% during the earlier week over concerns that BOE could be close to the final of its stiffened policy and the country's economy will be geared towards weak phase.