The dollar is generally weaker during European trading session Friday, dropping versus all except two of its 16 major counterparts amid speculation the Federal Reserve is still a long way from raising interest rates even after starting to reduce stimulus in January. The greenback last stood at 80.14 after nudging up to a session high of 80.60 and falling to a session low of 80.12. The USDIX index started the session at 80.59. Meanwhile, the greenback was trading higher against the Japanese yen on Friday, where yen touched a five-year trough against the dollar and euro, dented by Asian and European stocks advanced, which reduced the appeal of Japan's currency as a haven. Yen fell to fresh five-year lows, trading at ¥104.803 after opening at ¥104.746. The USDJPY pair so far hit a session low of ¥104.646. The dollar made jumped above the ¥105, its highest since 2008 after data showed core inflation rose to a 15-year high in November suggesting that Abe's radical economic policies are working. The USDJPY pair was likely to find support at 104.22, and resistance at 105.03. The euro rose to the strongest since October 2008 against the yen to buy ¥144.677 yen, after opening at ¥143.435. In contrast, European majors traded higher Friday, with many of the region's markets also trading higher as they reopened after the Christmas and Boxing Day breaks. The euro pushed towards a two-month high and pound rose to a two-year high versus the dollar. The single currency picked up momentum early Friday and notable broke above the 1.3700 and the 1.3800 mark, with solid resistance expected at 1.830. The euro was up against the dollar at $1.38068 , after jumping to a session high of 1.38113 while falling to a session low of $1.36632 . The EURUSD pair opened at 1.36895. Sterling reached its highest versus dollar since Aug 2011 , amid expectations that economic recovery in the UK to continue at a solid pace next year. The GBPUSD pair last stood at 1.64986 after opening at 1.63063. The pair so far recorded an intraday high of 1.65033.
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