Slowly the US dollar started to climb to make modest gains against most major currencies in the European session.
This saw the yen once again lose ground against the US dollar, pushing it further to a 32-year low.
Investors are on high alert if Japan will take measures to intervene in the currency market as the price approaches the 150 level against the USD.
Japanese Finance Minister Shunichi Suzuki said on Wednesday that he is reviewing the currency exchange rate carefully and more often.
On the other hand, the pound currency failed to register an increase following the release of stronger than expected UK inflation data in September.
UK consumer prices rose 10.1% last month from 9.9% previously and also exceeded market expectations.
In addition, the euro also reduced gains following the increase seen in US dollar trading.
Commodity-linked currencies, the dollar loonie traded steady ahead of the release of Canadian inflation data in the New York session.
The Aussie dollar fell slightly as the market awaited the release of Australian jobs data in the Asian session tomorrow.
