The Dollar rose, snapping a two week decline against the EUR, on speculation Group of 20 leaders will agree to tighten rules on investment, boosting demand for so-called safe-haven currencies. The Dollar gained as U.S. officials said they supported a plan to strengthen capital requirements and force banks to tie compensation more closely to risk. The yen headed for a weekly advance versus the EUR on prospects Japanese companies will keep bringing home earnings on overseas assets before the end of the half fiscal year.

The JPY continues to be the main winner from the recent return to risk aversion as it continues to gain against its riskier counterparts. The Yen was further helped today by the continued declined in commodity prices, spurring skepticism about the global economic outlook and turning investors to the safety of the Japanese currency.

The release of the U.S Durable Good Orders data at the opening of the U.S market at 12:30 GMT today, is likely to set the tone for the Dollar's direction in today's trading. Better than expected results will likely intensify the stock market's bullishness while putting downward pressure on the Dollar. Poor results, however, are likely to intensify investors' caution ahead of the weekend and further dampen demand of riskier currencies.