Dollar headed for gain first weekly of the year

The dollar have early gains to trade little changed late Friday, though it was tend to post its first weekly advance since December, with gains of about 0.7% on the week.

Weekly gains were influence by President Trump’s Thursday promise of a “phenomenal” declaration on taxes in the next two to three weeks, which helped to revive expectation about the prospect of fiscal stimulus for world economy. In Friday’s trading, initial gains stalled as the dollar fell back ahead of the London close on a mix of profit-taking and position volitility, traders said.

Dollar-yen saw some stop-loss selling as it fell to  low for the day under Thursday’s 113.25 close while the euro regain off its  low near 1.0600 to trade briefly above 1.0650 this session.