Dollar in virtual holding pattern as it logs 3rd straight weekly gain

The U.S. dollar strengthened against the yen Friday but weakened against the euro.

However, the greenback’s relatively muted movements suggest investors are settling into a wait-and-see posture as investors contemplate the possibility of the Federal Reserve lifting interest rates as soon as June.

Over the week, the dollar rose against both rivals, building on gains from the previous two weeks.

The buck USDJPY, -0.23%  was at ¥110.10, compared with ¥109.94 late Thursday in New York. The dollar gained 1.3% against the yen over the week. The euro EURUSD, +0.0624%  was at $1.1219, up from $1.1203 late Thursday. The dollar gained 0.8% against the euro over the week.

The ICE Dollar Index DXY, -0.21% , a measure of the dollar against a basket of major currencies, was unchanged at 95.32 and most recently was 0.8% higher over the week.

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