US dollar holds near weekly high as markets await Fed chair speech

The US dollar held steady on Friday near its highest level in a week against major currencies, as investors awaited a speech by the chair of the US Federal Reserve.

The dollar index, which tracks the greenback against six major peers, was little changed at 99.13 at the start of trading, after rising 0.3% this week. However, the index remains on track for a second consecutive monthly decline.

Meanwhile, both the euro and the British pound slipped to near one-week lows against the dollar, with the euro at $1.1652 and the pound at $1.3597. Despite the drop, both currencies are set for a second straight monthly gain.

The Japanese yen was also steady at 159.34 per dollar after giving up some recent gains, but remains on course for a monthly rise of about 1.3%.