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Markets

Yen hits lowest in nearly 3 years, dollar set to snap streak

Focus shifting to when U.S. Federal Reserve will raise interest rates

Improved market sentiment, which has lifted global stocks, commodity prices and bond yields, is also weighing on perceived safe havens such as the dollar and the yen.   © Reuters

TOKYO (Reuters) -- The dollar headed for its first weekly decline versus major peers since the start of last month, falling back from a one-year high as traders turned their attention to when the U.S. Federal Reserve will start raising interest rates.

The dollar index, which measures the greenback against six rivals, slipped 0.1% to 93.945 on Friday. It is on track for about a 0.19% decline this week despite hitting the highest since Sept. 25 of last year at 94.563 on Tuesday.

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