The Japanese yen inched up on Thursday amid slumped greenback, but was buoyed also from projections of possible more rate hikes from BOJ during 2024.

The yen was bolstered by report from Nikkei newspaper that hinted for raising bets that BOJ will take further hawkish stance with the rate hikes from July to October.

The falling value of the greenback following the Fed's decision to hold off on raising interest rates this year in the face of positive inflation shocks, contrary to what some investors had anticipated.

The dollar index that gauges the greenback versus its major pairs steadied at 103.24, having plunged over 0.5% on Wednesday.

EURUSD and GBPUSD edged up to one-week peaks, climbing to $1.0939 and $1.2803, respectively.

The yen soared by almost 0.7% to a session-high of 150.265 per dollar previously during the day, recovering some of its sharp dips amid the major shift of BOJ’s policy that took place during the week.