The greenback muted on a large scale on Wednesday, maintaining the yen sticking at 34-year dips following Fed officials’ statements, that indicated hints regarding the interest rate trajectory that will probably remain hiked for extended period.

Fed officials did not provide enough hints regarding the timing of interest rate cut, signalling instead that the rate trajectory will likely stay higher for longer, quashing hopes of a dovish stance any time soon.

These comments came after numerous figures that manifested that the US economy advanced amid stubborn inflation.

The dollar index that gauges the greenback versus its major pairs steadied at 106.32, just below 5 months high of 106.51 hit previously on Tuesday. The index ticked up for the year by 5%.

EUR/USD muted at $1.0621 close to 5 and ½ month dip of $1.06013 hit earlier on on Tuesday.

GBP/USD muted at $1.2425, but lingered near to the five-month dips of $1.24055 hit on Tuesday.

The yen traded at 154.63 per dollar, post hitting the 34-year dip of 154.79 in the earlier session. For the year the yen plunged to 9% versus the greenback.