The greenback plunged a bit on Wednesday versus Euro prior the release of Fed's stance regarding the interest rate hikes in today's meeting.

The euro steadied amid the retreated inflation figures in the eurozone for the third month in a row.

The market anticipates a quarter-point increase in the Fed's benchmark interest rate to 4.75% in 2022, following a series of big rate increases to control inflation. The rate would rise by the least amount since the central bank started raising rates 10 months ago.

The dollar index, that gauges the greenback versus the greenback dollar slumped by 0.2% to 101.91. Additionally, it declined in the earlier session, in part as a result of a report revealing that U.S. labour expenses rose at the slowest rate in a year in the fourth quarter.

EUR/USD advanced by 0.3% to $1.0893.

GBP/USD remained unchanged at $1.2320. Media reports that the United Kingdom and the European Union have reached a post-Brexit customs agreement for Northern Ireland did little to boost demand for the pound.