The US dollar rose slightly after data showed job openings in October climbed to a five-month high, though layoffs also increased. Investors continued assessing the Bank of Japan's rate hike prospects, with the yen underperforming other G-10 currencies. The euro trimmed losses after France's government approved next year's welfare bill.

The Bloomberg Dollar Index gained less than 0.1%, hovering near its 50-day moving average of 1215.55.

According to the US Bureau of Labor Statistics, job openings in October rose slightly to 7.67 million, while layoffs increased to 1.85 million.

The Federal Reserve began its two-day policy meeting, with traders widely expecting a 25-basis-point rate cut.

Hedging around US labor market data has drawn more attention than the decision itself, as markets believe nonfarm payroll figures could influence future rate-cut expectations more than Fed Chair Jerome Powell’s guidance.

Kevin Hassett, a top contender for Fed chair and director of the White House National Economic Council, stated that the central bank has room to cut rates by more than 25 basis points.

USD/JPY rose 0.7% to a daily high of 156.95, its strongest level since November 25. The pair neared levels that could erase its year-to-date losses, last seen in November. One-week implied volatility for USD/JPY continued to edge higher as key event risks came into focus.

Japanese Prime Minister Sanae Takaichi said authorities would take appropriate measures against excessive currency fluctuations. Bank of Japan Governor Kazuo Ueda noted that recent rises in long-term bond yields were "somewhat rapid," adding that yields should generally be market-determined.

The yen fell to cycle lows against the pound and euro, with EUR/JPY climbing 0.7% to a record high of 182.64.

The Australian dollar strengthened after Reserve Bank of Australia Governor Michele Bullock signaled further rate cuts may not be necessary.

EUR/USD declined 0.1% to 1.1625, extending losses for a third consecutive day.

France’s National Assembly passed a social security bill for next year, increasing the likelihood of lawmakers approving a new budget before year-end. German legislators are set to approve 29 military procurement contracts next week, totaling a record €52 billion.

GBP/USD initially rose 0.3% to a high of 1.3356 before paring gains and ending New York trading down 0.2%.