Dollar headed for second weekly gain as rate cut optimism cools

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Key Points

LONDON/SINGAPORE (Reuters) -The dollar was on track to rise for a second straight week on Friday as signs of resilience in the U.S. economy and pushback from central bankers has caused traders to dial down expectations of swift and sharp falls in interest rates...

Japans yen has been the biggest loser: it is now down around 5% for the year so far as tepid economic data and a deadly earthquake have sapped confidence that the Bank of Japan is about to hike rates...

The yen was also little changed at 148.02 to the dollar, having risen but then fallen back after data showed Japans core inflation rate slowed to 2.3% in the year to December..

U.S. labour market data released on Thursday was strong, with weekly jobless claims dropping to their lowest level in nearly 1-1/2 years, adding to the pressure on market rate-cut wagers...

Deepening malaise in Chinas property markets rattled investors, who sold mainland shares to multi-year lows and the yuan currency to an almost two-month low of 7.197 per dollar, drawing state-bank buying to support it..

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