Dollar Slips as Oil Eases and Yen Rallies
The dollar declined on Friday as oil prices eased and the yen rallied following intervention warnings from Japan and the US. Despite the daily dip, the currency remained on track for a weekly advance amid growing rate hike expectations.
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The United States dollar fell 0.3% to 100.95 on Friday afternoon as crude prices eased, but remained on track for a second straight weekly advance. The drop marked the currency's largest daily percentage loss in three weeks amid profit-taking. Despite the daily dip, rising Treasury yields and rate hike bets continue to underpin the greenback.
