Dollar mostly slips in tame pre-weekend trade
Dollar fell after turmoil over prospects of an accelerated Fed interest-rate increase.
NEW YORK (AFP) - The dollar slipped against most other major currencies on Friday in a relatively quiet market after some mid-week turmoil over prospects of an accelerated Federal Reserve interest-rate increase.
The euro rose slightly to $1.3794 around 2200 GMT from $1.3778 late Thursday.
The dollar ticked down to 102.23 yen from 102.36 yen, while the euro advanced to 141.87 yen from 141.03 yen.
"The action in the foreign exchange market this week was marked by the strong rally in the US dollar on Wednesday. Outside of the one-day rise, however, we have not seen much follow-through," said Kathy Lien of BK Asset Management.
The dollar surged after Federal Reserve Chair Janet Yellen said that the central bank may raise its ultra-low federal funds rate around six months after winding up its asset-purchase stimulus, expected by year-end.
That timeframe suggested a rate hike in the first half of 2015, sooner than some analysts' expectations for a hike in the second half.
Lien predicted that the US economic growth would pick up as the unusually rough winter weather fades into spring, leading to stronger job growth and consumer consumption.
"We have already seen the initial signs of improvements with some of this week's economic reports and looking ahead we should continue to receive upside surprises that will reinforce the rally in US rates and the dollar," she said.
The dollar fell to 0.8828 Swiss franc from 0.8835 late Thursday.
The pound dropped to $1.6486 from $1.6506.
