Thursday's light holiday-related trading saw a decline in the value of the US dollar as investors considered the implications of the latest economic figures for the Fed's interest rate trajectory.

The weekly report on jobless claims revealed that the number of Americans filing new claims decreased more than anticipated last week, indicating a continuing robust labor market. This gave the dollar a small boost on Wednesday.

The market is fully anticipating the Fed to remain unchanged on rates in December before beginning to cut somewhere in the upcoming year, which is why the index is down roughly 2.5% so far in November and is headed for its worst monthly performance in a year.

EUR/USD advanced by 0.3% to 1.0922, prior to the publication of the minutes from the policy meeting held in October by the ECB, during which the ECB ended an extraordinary 10-year run of rate hikes.

GBP/USD ticked up by 0.2% to 1.2521, following Chancellor Jeremy Hunt's Autumn Statement on Wednesday, the pound slightly recovered.

USD/JPY edged down by 0.2% at 149.17, with the dollar rising and the yen bouncing back from sharp overnight losses. On Friday, the Bank of Japan is slated to release its October consumer inflation statistics, which could provide additional hints about its ultra-dovish monetary policy plans.