The U.S. dollar slipped against its major counterparts in the Asian session on Thursday, after the Federal Reserve gave a cautious assessment on inflationary outlook, casting uncertainty over the timing over the next interest rate hike.

The Federal Open Market Committee decided to maintain its key interest rate at a 1.00 to 1.25 percent range and announced plans to begin to unwind its bloated balance sheet "relatively soon"

The Fed's accompanying statement acknowledged inflation was "running below 2%" instead of "running somewhat below 2%," a downbeat assessment compared to the June statement.

With the language on inflation being more dovish than the June statement, most economists are of the view that it may delay its next interest rate hikes, possibly into next year.

Investors await U.S. durable goods for June and weekly jobless claims later in the day for more clues about the economy.

The greenback dropped on Wednesday after the Fed announcement. It shed 0.6 percent against the yen, 0.2 percent against the franc, 0.7 percent each against the euro and the pound for the day.

The greenback fell to a 2-1/2-year low of 1.1777 against the euro and a 10-month low of 1.3157 against the pound, from Wednesday's closing quotes of 1.1734 and 1.3118, respectively. The greenback is seen finding support around 1.19 against the euro and 1.32 against the pound.

The greenback dropped to a 3-day low of 110.78 against the yen and a 2-day low of 0.9490 versus the Swiss franc, from yesterday's closing quotes of 111.17 and 0.9507, respectively. If the greenback extends decline, 109.00 and 0.93 are likely seen as its next support levels against the yen and the franc, respectively.

The greenback edged down to 1.2414 against the Canadian dollar, from yesterday's closing value of 1.2446. The next possible support for the greenback-loonie pair is seen around the 1.23 region.

The greenback that Wednesday's deals at 0.7521 against the kiwi and 0.8004 against the aussie slipped to near 2-year lows of 0.7558 and 0.8066, respectively. Continuation of the greenback's downtrend may see it challenging support around 0.77 against the kiwi and 0.83 against the aussie.

Looking ahead, Eurozone M3 money supply data for June is due to be released later in the day.

In the New York session, U.S. preliminary durable goods orders for June, U.S. weekly jobless claims for the week ended July 22, U.S. advance goods trade balance for June and preliminary wholesale inventories for June are slated for release.

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