U.S. Dollar Cools after Jackson Hole


The dollar hovered just below its 2014 peak against a basket of major currencies early on Friday, with bulls turning cautious ahead of a speech by Federal Reserve Chair Janet Yellen.

The dollar index, which ended the New York session lower for the first time this week, traded at 82.154, off a high of 82.364 - a level last seen in early September.  It was still up 0.9 percent so far this week and on track to post its best weekly gain since late January. Upbeat housing data and a hawkish-sounding Fed minutes have combined to give the greenback a big boost.

This week's rally left the dollar on the verge of breaking above its April peak of 104.13 yen, a move that could open up the way to 105.45 set in January. It was last at 103.85 yen, not far from the overnight peak of 103.97.

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