Commodity currencies such as the Australian, the New Zealand and the Canadian dollars weakened against their major counterparts in the Asian session on Friday, as investors turned cautious ahead of the release of the closely watched April U.S. non-farm payrolls report later in the day.

The U.S. Labor Department report is expected to show an increase of about 200,000 jobs in April, while the unemployment rate is expected to edge down to 4.9 percent. The data could have a significant impact on the outlook for whether the Federal Reserve will raise interest rates at its next meeting in June.

On the economic front, the latest survey from the Australian Industry Group showed that the construction sector in Australia turned to expansion in April. That's up sharply from the 13-month low of 45.2 in March, and it climbs above the boom-or-bust line of 50 that separates expansion from contraction.

Thursday, the Australian, the New Zealand and the Canadian dollars showed mixed trading against their major rivals. The aussie held steady against the U.S. dollar and the yen, but rose against the euro.

The kiwi also held steady against the U.S. dollar and the yen, and rose against the euro.

Meanwhile, the loonie held steady against the U.S. dollar, the yen and the euro.

In the Asian trading, the Australian dollar fell to more than a 2-month low of 1.0771 against the NZ dollar and a 2-month low of 0.7382 against the U.S. dollar, from yesterday's closing quotes of 1.0839 and 0.7463, respectively. If the aussie extends its downtrend, it is likely to find support around 1.06 against the kiwi and 0.71 against the greenback.

Against the euro and the yen, the aussie dropped to near 3-month lows of 1.5446 and 79.07 from yesterday's closing quotes of 1.5272 and 80.04, respectively. The aussie may test support near 1.58 against the euro and 78.00 against the yen.

The aussie slid to a 3-day low of 0.9506 against the Canadian dollar, from yesterday's closing value of 0.9589. On the downside, 0.94 is seen as the next support level for the aussie.

The NZ dollar fell to an 8-day low of 0.6848 against the U.S. dollar and a 3-day low of 73.35 against the yen, from yesterday's closing quotes of 0.6882 and 73.81, respectively. If the kiwi extends its downtrend, it is likely to find support around 0.66 against the greenback and 72.00 against the yen.

Against the euro, the kiwi edged down to 1.6652 from yesterday's closing value of 1.6563. The kiwi is likely to find support around the 1.68 area.

The Canadian dollar fell to a 2-day low of 1.2881 against the U.S. dollar, from yesterday's closing value of 1.2853. The loonie may test support near the 1.31 region.

Against the euro and the yen, the loonie dropped to 1.4692 and 83.10 from yesterday's closing quotes of 1.4658 and 83.44, respectively. If the loonie extends its downtrend, it is likely to find support around 1.49 against the euro and 82.00 against the yen.

Meanwhile, the safe-haven yen rose against its major rivals amid rising risk aversion.

In economic news, the Bank of Japan said that the monetary base in Japan was up 26.8 percent on year in April. That follows the 28.5 percent jump in March. The adjusted monetary base advanced 8.2 percent to 374.099 trillion yen.

The yen rose to a 2-1/2-year high of 110.53 against the Swiss franc and a 4-day high of 122.06 against the euro, from yesterday's closing quotes of 110.82 and 122.32, respectively. If the yen extends its uptrend, it is likely to find resistance around 109.00 against the franc and 121.00 against the euro.

Against the pound and the U.S. dollar, the yen advanced to 155.01 and 107.04 from yesterday's closing quotes of 155.34 and 107.25, respectively. The yen is likely to find resistance around 153.00 against the pound, 105.00 against the greenback.

Looking ahead, U.S. and Canada unemployment data and Canada Ivey PMI, all for April, are due to be released in the New York session.

At 11:00 am ET, Bank of Canada Deputy Governor Lawrence Schembri is expected to participate in a panel discussion at the Peterson Institute for International Economics, in Ottawa.

At 3:00 pm ET, U.S. consumer credit for March is slated for release.

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