Dollar Set for Best Week in a Month on Cut-Then-Wait Fed Outlook

FOREX - TOKYO. The dollar rose to a 2 1/2-week high against major peers on Friday, on track for its best week in a month, amid bets that the Federal Reserve would cut interest rates next week but then take a patient approach to further reductions.

The U.S. currency was also supported against the euro and Swiss franc following rate cuts by those central banks a day earlier, and versus the yen amid speculation the Bank of Japan will forgo a rate hike at its meeting next week.