The yen weakened against all Group-of-10 peers as the Bank of Japan's December summary of opinions indicated it will remain patient on deciding when to exit its ultra-easy monetary policy stance. 

The yen fell as much as 0.3% against the dollar after one board member indicated it is appropriate for the central bank to continue monetary easing. Another said the BOJ can wait until after it sees the results of the spring wage negotiations in March to decide if it should raise rates.

"Removal of negative interest rate policy in January is off the table" after the central bank took a cautious approach at the December meeting, said Shoki Omori, chief desk strategist at Mizuho Securities in Tokyo. The continuation of NIRP could maintain the rate differential with the US and weaken the yen against the dollar, Omori said.

The Bloomberg Dollar Spot Index rose 0.1% while the yield on policy-sensitive two-year Treasuries fell one basis point to 4.34.

AUD/USD fell 0.1% to 0.6818. NZD/USD dropped 0.1% to 0.6322.

Source: Bloomberg