The U.S. dollar eased on Thursday and hit a one-month low against the yen as traders zeroed in on the idea that U.S. interest rates were likely to fall this year even after some upside surprises on inflation.

Most Asian stocks fell on Wednesday with an underwhelming economic outlook from China providing little support, while overnight losses in Wall Street spilled over as markets grew skittish before more signals on U.S. rates. 

Asian equities eased on Wednesday in cautious trading, with Chinese stocks slipping as the lack of big stimulus measures from Beijing disappointed some investors, while gold and bitcoin eased after hitting record highs.

Business activity in the euro zone showed signs of recovery last month as the bloc's dominant services industry expanded for the first time since July, offsetting a deeper contraction in manufacturing, a survey showed.

Japan is seeing early signs of achieving a positive cycle of rising inflation and wages, Deputy Chief Cabinet Secretary Hideki Murai said on Tuesday, stressing the administration's focus on broadening pay increases beyond big companies.

China's services activity grew at a slower pace in February, with business confidence moderating for the second month and firms trimming staff numbers for the first time since November, a private-sector survey showed on Tuesday.