The dollar edged up on Friday to pull away from multi-month lows against the euro and sterling, as investors began to train their sights on a slew of major central bank meetings next week.
* South African rand extends losses after smaller rate hike. * Turkey's c.bank sticks to forecast for inflation plunge. * Adani Group fallout drags Indian shares to 3-month low. * EM stocks, FX muted but both on track for weekly gains. By Bansari Mayur Kamdar.
The Russian rouble steadied above 69 to the dollar on Friday, buffeted by geopolitical tension as the United States piled more sanctions on Russia but retaining support from a favourable month-end tax period. At 0734 GMT, the rouble was 0.1% weaker against the dollar at 69.33 and had gained 0.1% to trade at 75.35 versus the euro.
The yen rose against the dollar on Friday as heated Tokyo inflation readings spurred bets that a hawkish pivot from the Bank of Japan was in the offing. However, the U.S. dollar pulled away from near a nine-month low to the euro and a seven-month trough to sterling as traders braced for a critical week when the central banks responsible for all three currencies will meet.
* Platinum, palladium set for weekly drop. * U.S. PCE data due at 1330 GMT. * Gold sees weekly loss of 0.3% By Ashitha Shivaprasad. Gold prices slipped on Friday as the dollar ticked up, with traders awaiting U.S. inflation data due later in the day to gauge the Federal Reserve's likely stance on further interest rate hikes.
The dollar edged up on Friday to pull away from multi-month lows against the euro and sterling, as investors began to train their sights on a slew of major central bank meetings next week.
The dollar edged higher against the euro on Thursday after data showed the U.S. economy maintained a strong pace of growth in the fourth quarter, backing the case for the U.S. Federal Reserve to maintain its hawkish stance for longer. Gross domestic product increased at a 2.9% annualised rate last quarter, the Commerce Department said in its advance fourth-quarter GDP growth estimate.
* Canadian dollar strengthens 0.4% against the greenback. * Touches its strongest since Nov. 18 at 1.3304. * Price of U.S. oil settles 1.1% higher. * Canadian bond yields rise across curve. By Fergal Smith.
* U.S. economic growth beats expectations. * Solid GDP data offsets signs of economic weakness. * Oil prices firm on China demand optimism. By Herbert Lash and Huw Jones.
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