Dollar set to snap 5-week win but yen hits lowest in almost 3 years

 Dollar set to snap 5-week win but yen hits lowest in almost 3 years

A one thousand Japanese yen bank note, with a closed up of five Euro European bank note.

Vitoria Holdings LLC

The dollar headed for its first weekly decline versus major peers since the start of last month, falling back from a one-year high as traders turned their attention to when the U.S. Federal Reserve will start raising interest rates.

The dollar index, which measures the greenback against six rivals, was little changed at 94.034 on Friday. It is on track for about a 0.1% decline this week despite hitting the highest since Sept. 25 of last year at 94.563 on Tuesday.

Improved market sentiment, which has lifted global stocks, commodity prices and bond yields, is also weighing on the safe-haven dollar.

Only against the yen — another safe haven — has the dollar managed to maintain the momentum of the past five weeks, rising 0.16% on Friday and touching 113.885 yen for the first time since December of 2018.

“We end the week with risk…

Read full article…www.cnbc.com