The currency market continues to be turbulent with volatile price movements since trading in the European session yesterday Tuesday.
The Pound and Yen showed significant depreciation in value as investors worried about their respective government finances, while the US dollar showed a recovery.
The Pound fell dramatically due to an aggressive surge in UK long-term bond yields as well as concerns about fiscal policy uncertainty ahead of the budget presentation.
Meanwhile, the Yen received selling pressure due to a cautious tone from the central bank and also the instability in the ruling party in Japan.
Japan's ruling party Secretary General Hiroshi Moriyama, a close aide to Prime Minister Shigeru Ishiba, expressed his intention to resign.
The US dollar managed to strengthen again from a fall to a 5-week low with the market this week watching for clues on the US employment data to be released.
In the New York session tonight (Wednesday), JOLTS data will be given focus for investors to assess the number of job openings in July. The forecast figure is expected to be slower than the previous month's reading.
Heading into the weekend, Thursday's ADP jobs data will be the next focus before the focus shifts to Friday's NFP report.
Australia's economic growth report is among the highlights of the Asian session this morning, with the Aussie dollar's performance to be assessed after a sharp decline yesterday.
A speech by Reserve Bank of Australia (RBA) governor Michele Bullock in Perth this afternoon could provide a signal on the central bank's further monetary policy.
