The US dollar was weaker against the yen and the euro in afternoon trade here, ahead of the European Central Bank (ECB) meeting, the G8 summit and the release of US payrolls data this Friday. At 2.43 pm (0643 GMT) here, the dollar was at 111.54 yen, down from 111.65 yen just over three hours earlier in Tokyo. The euro was at 1.1944 usd, up from 1.1914 usd earlier in Tokyo. "With the G8 summit beginning in Scotland later on Wednesday and non-farm payrolls two days away, flows were at a minimum," UBS told its clients in a daily note. But most analysts expect the greenback to remain firm at the expense of its major counterparts if the G8 meeting passes with no clearer hint of when China plans to revalue the yuan. Chinese President Hu Jintao is scheduled to attend the G8 meeting, and market watchers are hungry for any yuan-related comments he might make. A revaluation of the yuan, now pegged around 8.28 to the dollar and considered undervalued, is widely expected to result in dollar weakness as Asian currencies, especially the yen, rise in tandem with the Chinese unit. Rising oil prices also helped the dollar keep a buoyant tone against Asian units today, Asian economies being seen as more vulnerable to oil price jumps because of their dependence on oil imports. "The market's undertone remains pro-dollar, though sentiment has been tempered by caution ahead of Friday's employment report," Bank of Tokyo-Mitsubishi's Singapore-based economist Wong Keng Siong wrote. Non-farm payrolls are expected to rise 195,000 after the soft 78,000 gain in May, according to a Market News International survey of economists.