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Dollar heads for strongest week since July, yen on back foot

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Reuters UK

By Ankur Banerjee SINGAPORE (Reuters) -The dollar was steady on Friday, heading for its strongest weekly performance since July on scaled back expectations of steep and early interest rate cuts this year ahead of closely watched U.S. payrolls data later in the day. The U.S. currency’s strong start has cast a shadow on the Japanese yen, with the Asian currency down 2.5% against the dollar in the first week of the year, its weakest weekly performance since August 2022. The dollar’s rebound will be tested by the nonfarm payrolls report due later in the session. Economists polled by Reuters foreca…

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