Yen and Dollar Drift Amid Iran Deal Concerns, Payroll Jitters

Currency markets remained cautious on Thursday as concerns about a proposed US-Iran deal and jitters about upcoming US payroll data left traders hesitant to make big moves. The yen was little changed at 157.71 per dollar in early trade, having given back some intervention gains after touching 155.20 per dollar on Monday.

The euro was also steady at $1.1557, while sterling traded flat at $1.3469. Meanwhile, the New Zealand and Australian dollars were flat, last trading at $0.5885 and $0.7056, respectively.

Markets are watching closely as tensions continue to play out in the Gulf after a proposed deal between Iran and Oman was reported by Reuters. The proposal could give Tehran control over inbound traffic through the Strait of Hormuz, which has raised concerns among US officials.