Derek Halpenny Against Quotations

The dollar remains underpinned against both the euro and the yen ahead of the key employment report from the US.

The dollar has depreciated sharply against the euro and more modestly against the yen with dollar sentiment deteriorating as fears increase over the outlook for the US economy.

Any shift in policy on Thursday from the BOJ is very likely to be accompanied by a strong commitment to maintaining zero interest rates. There is no trade more obvious than selling the yen against the dollar.