Investing.com - The dollar held steady against other major currencies on Friday, as investors awaited the release of U.S. economic reports later in the day amid growing expectations for a rate by the Federal Reserve next week.
EUR/USD was little changed at 1.0942.
Demand for the dollar continued to be underpinned by expectations that the Fed is on track to raise interest rates for the first time since 2006 at its upcoming meeting on December 15-16.
Higher interest rates would make the dollar more attractive to yield-seeking investors.
Market participants were eyeing upcoming U.S. reports on retail sales, producer prices and consumer sentiment due later in the day, for further indications on the strength of the economy.
USD/JPY rose 0.28% to trade at 121.93.
Commodity-related currencies, including the Canadian dollar, remained under selling pressure amid an ongoing rout in oil prices. Crude oil futures for January delivery were down 0.34% at a seven-year low of $36.63 a barrel in late Asian trading.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 97.98.