On Wednesday, the US dollar made a slight decline as traders awaited the release of the US inflation figures, which could have an impact on Fed’s stance monetary policy.

The dollar index that gauges the greenback versus its major pairs slumped by 0.2% to 101.700.

The March U.S. CPI will be the primary topic of discussion on Wednesday as traders attempt to predict what the U.S. central bank will do next.

The prevalent belief is that the Fed will complete its 25 basis point rate hike cycle in May before beginning to lower interest rates later in the year.

EUR/USD edged up by 0.2% to 1.0930.

GBP/USD soared by 0.1% at 1.2431within narrow range.

USD/JPY dipped to 133.60, just below a one-month high, as traders contrasted the probable Fed tightening with new Bank of Japan Governor Kazuo Ueda's inauguration promise to maintain ultra-easy stimulus levels.