The dollar was under pressure but the price of the U.S. dollar rebounded due to

The dollar was on the defensive on Thursday and its biggest decline in five months on the previous day. Treasury prices rebounded as markets speculated that the pace of monetary tightening by the Federal Reserve may not be as dramatic as previously thought.

Asian markets remained steady, with the Japanese market closed for holidays today and the U.S. market closed for Thanksgiving holidays.

MSCI Asia Pacific (except Japan) index rose 0.15%, reaching a 10-year high, Hong Kong stocks Hang Seng Index .HSI also rose.

The minutes of the Fed's previous meeting released before the dollar fell showed that many policymakers are concerned that inflation may stay longer than expected at a level below the central bank's target of 2%.

This echoed Fed Yellen's speech and prompted the market to cut expectations for more rate hikes next year. Yellen said she is uncertain about the future of inflation.

Although the Fed's rate hike in December to 1.25-1.5% is almost certain, the trend in Fed funds rate futures shows that interest rates will only be 1.75% by the end of next year.