Investing.com - The dollar was little changed against the other major currencies on Friday, as investors awaited the release of U.S. data later in the day amid growing speculation the Federal Reserve will raise interest rates next week.
USD/JPY added 0.17% to 121.78.
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.
EUR/USD held steady at 1.0944.
The euro remained mildly supported after the latest round of easing announced by the European Central Bank fell well short of market expectations.
Elsewhere, the dollar edged higher against the pound and the Swiss franc, with GBP/USD down 0.12% at 1.5141 and with USD/CHF rising 0.17% to 0.9893.
The Australian and New Zealand dollars were weaker, with AUD/USD down 0.77% at 0.7224 and with NZD/USD shedding 0.26% to 0.6740.
Meanwhile, USD/CAD gained 0.31% to trade at fresh 11-1/2 year highs of 1.3667.
The commodity-related loonie remained under selling pressure amid an ongoing rout in oil prices. Crude oil futures for January delivery were down 0.92% at a seven-year low of $36.44 a barrel in European morning trading.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 97.97.