U.S. Payrolls data come out later today and everyone’s wondering whether the Federal Reserve will move into tapering even as early as this month. But the speculation is hurting the dollar which is set to drop for a fourth week in a row.

With the European Central Bank deciding not to move on an easing policy, however, the euro has advanced against all its major peers. In Japan, the head of an advisory panel commended on the necessity of immediate cutbacks from bond holdings by the Government Pension Investment, which caused the yen to trim off its weekly gain on the dollar for the first time.

The U.S. economy is expected to have added 180,000 new jobs last month, and if the ADP NFP data hold, the number might turn out even higher. Should the data however come in significantly lower, investors are expecting a huge sell off on the dollar.

The next meeting of the Federal Open Market Committee is scheduled for 17th-18th of December. Scrutinising the minutes of their previous meeting, which were published on 20th November, investors noted that policy makers would await further positive data to “warrant trimming the pace of purchases in coming months.”