Among the reports due this week will be US consumer confidence data and unemployment rate figures from Japan.

The dollar has remained firm against the yen this week but dipped slightly this morning to 121.60 yen.

Non-farm payrolls data is also due to be issued from America later today and speculation that results may be stronger than expected could impact upon future interest rate decisions by the Federal Reserve, suggests.

Meanwhile, earlier figures from Japan have shown a declining unemployment rate and an increase in household spending.

"The currency market reacted by buying yen on the falling unemployment and strong household spending data," senior manager at FX trading at Mitsubishi UFJ Securities Minoru Shioiri told Reuters.

However, he added that yen buying was unlikely to endure as investors selling the currency to purchase foreign assets were not likely to stop doing so in the event of the Bank of Japan raising interest rates.