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The
single currency rose a third of a percent to a four-day high of
$1.0619 <EUR=>, having been boosted by comments from European
Central Bank head Mario Draghi on Thursday that investors saw as
somewhat hawkish.
The ECB removed from its statement a reference to using all
available measures to induce growth and inflation, driving
markets to price in an interest rate hike in early 2018, on
expectations the ECB will wind down its stimulus programme as
the European economy improves.
"It (the euro) is not going to run away to the top side because
we're waiting to see what wage growth does today in the States,
and what the Fed statement tells us next Wednesday," said ING
currency strategist Chris Turner in London.
A surprisingly robust private U.S. jobs report from ADP on
Thursday heightened bets for a strong monthly non-farm payrolls
release due at 1330 GMT, further strengthening the case for a
U.S. interest rate hike at the Fed's policy meeting next week.
The dollar climbed almost half a percent to 115.495 yen <JPY=>,
its highest 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 101.85 <.DXY>. 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.
"In the near term it's going to be quite tough for there to be
further dollar strength, given how well-priced the Fed meeting
is next week, and also just how much the market has priced for
the year now as a whole," said currency strategist Hamish Pepper
at Barclays in London.
The Norwegian crown fell to four-month lows against the euro
after data showed consumer prices in Norway fell to four-year
lows in February, putting pressure on the central bank to keep
monetary policy loose.
It was last down 0.7 percent, at 9.1450 crowns per euro <EURNOK=D4>.
(Reporting by Ritvik Carvalho; Editing by Mark Potter)
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