00:30 Japan BOJ Governor Haruhiko Kuroda Speaks

01:30 Australia Building Permits, m/m May +9.5% -0.9% -1.1%

01:30 Australia Building Permits, y/y May +28.8% -0.1% -3.2%

The euro traded 0.6 percent from its weakest in more than a month before the European Central Bank meets today following recent comments from President Mario Draghi that monetary policy will stay accommodative. The central bank will keep its benchmark interest rate unchanged at a record low of 0.5 percent today, according to 61 of 62 forecasts in a Bloomberg News survey of economists.

The 17-nation currency fell for a second day against the yen after Portugal’s bonds slumped and two of the nation’s ministers resigned, reigniting concern Europe’s sovereign-debt crisis is worsening. With Portugal’s 10-year yield yesterday climbing above 8 percent for the first time since November, investors are seeking assurance from the ECB president that the central bank has no plans to end its current accommodative stance. Some economists are suggesting Draghi will go a step further and offer commitments on the path of interest rates.

The Dollar Index remained lower after declining yesterday from a one-month high ahead of a U.S. jobs report that may help signal whether the economy is strong enough for the Federal Reserve to pare back its bond purchases. The dollar remained lower versus its Japanese counterpart before a Labor Department report tomorrow that may show nonfarm payrolls in the world’s biggest economy increased by 165,000 jobs in June, a Bloomberg survey forecast. The unemployment rate is predicted to fall to 7.5 percent from 7.6 percent.

U.S. financial markets are closed today for the Independence Day holiday.

EUR / USD: during the Asian session the pair fell to $ 1.2985

GBP / USD: during the Asian session the pair fell to $ 1.5250

USD / JPY: during the Asian session the pair traded in the range of Y99.70/10

US markets are closed for the Independence Day holiday Thursday and there are only a few entries on the European calendar, albeit two the the bggest monthly set pieces - the ECB and BOE policy meetings. The only UK numbers set for publication are the June SMMT New Car Registrations expected at 0800GMT. At 1100GMT, the July BOE Monetary Policy Decision is expected. The meeting is new Bank of England Governor Mark Carney's first. Analysts are near unanimous in the belief that the July MPC meeting, whatever the views of Carney, will end with unchanged policy. The key decision making month is August, not July, and it would make littl sense, not least from a communications perspective, for the MPC to jump the gun. At its August meeting the MPC will have the updated quarterly economic forecasts that underpin that month's Inflation Report.