By Cornelius Luca
New York, April 5 (BridgeNews) - The greenback trimmed correctional losses ahead of the release of the U.S. jobs data on Friday after peaking Monday versus all key currencies. Ongoing liquidation of long positions sent the dollar to a six-day low of 123.50 yen and the euro to a 15-day high of 90.91 cents to the dollar. With the decline seemingly overdone, the greenback might benefit from flows for the balance of the week.
* * * The sterling showed little reaction after the Bank of England met market's expectations and cut the key U.K. interest rate by 25 basis points to 5.50%.
The bank's monetary policy committee attributed the decision to cut rates to the decline in world stock markets and the foot-and-mouth crisis. Sterling/dollar gave up most of its gains after climbing to a one-week high of 1.4394.
Dollar/Swiss franc reflected euro/dollar's gains with a slide to a 15-day low of 1.6847, while dollar/Canada trimmed minute gains that reached 1.5803.
The record high in dollar/Canada is 1.5848.
With no events planned for Thursday but a long queue of Fed officials scheduled to speak, the U.S. traders will likely continue to keep the dollar in good two-way action versus the European currencies.

Current Previous Change Global Global
NY open NY close low high

USD/JPY 124.19 125.44 -1.25 123.50 125.51
EUR/USD 0.9016 0.9016 0.0000 0.8985 0.9091
EUR/JPY 111.99 113.10 -1.11 111.25 113.60
GBP/USD 1.4349 1.4322 0.0027 1.4322 1.4394
USD/CHF 1.6965 1.6965 0.0000 1.6847 1.7012
USD/CAD 1.5758 1.5733 0.0025 1.5711 1.5803
AUD/USD 0.4906 0.4881 0.0025 0.4885 0.4942
NZD/USD 0.4046 0.4058 -0.0012 0.4032 0.4092
SP.1 1421.50 42.00 1382.00 1421.50
ND.1 1421.50 42.00 1382.00 1421.50