The dollar rose to 114.74 yen, its highest against the Japanese currency since March 3, just below a nearly one-month high. U.S. private employers added 298,000 jobs last month, well above the gain of 190,000 predicted by economists surveyed by Reuters. Hawkish comments from Federal Reserve officials last week have investors betting that a rate hike next week is essentially a done deal. That pushed the dollar to its highest level since March 3 against a basket of currency rivals. "The market certainly got ahead of itself before the (Federal Open Market Committee meeting) next week," said Dean Popplewell, chief currency strategist at Oanda in Toronto.
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FOREX-Dollar hits 7-week high vs yen ahead of U.S. jobs data
"However, we would avoid euro/dollar, considering that today's US jobs data could prove the trigger for a retreat." Markets are now pricing in an almost 90 percent chance of a hike, according to Reuters data. The dollar climbed almost half a percent on Friday to 115.495 yen, its highest levels since Jan. 20, leaving it up nearly 1-1/2 percent for the week. The dollar index, which tracks the greenback against a basket of six major rivals, was flat at 101.80. It was on track for its fifth straight week of gains - its best run in eight months - after a quarter-of-a-percent rise this week.
Markets are now pricing in an almost 90 percent chance of a Fed hike next week, according to Reuters data. The dollar climbed almost half a percent to 115.495 yen , its highest since Jan. 20, leaving it up nearly 1-1/2 percent for the week. It was on track for its fifth straight week of gains - its best run in eight months - after a quarter-of-a-percent rise this week. The dollar index, which tracks the greenback against a basket of six major rivals, was flat at 101.85. It was last down 0.7 percent, at 9.1450 crowns per euro .
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