On Wall Street, the S&P 500 ended Thursday unchanged at 2,108.63, as downbeat earnings offset solid economic data.
U.S.
gross domestic product data released on Thursday showed growth
accelerated in the second quarter, though slightly short of some
forecasts. Growth was tweaked higher in the first quarter, backing the
Fed's assessment at its meeting this week that the economy was expanding
"moderately."
"We believe there's enough here for the Fed to raise interest rates for the first time in nine years," said Kathy Lien, managing director at BK Asset Management in New York.
"While we are bullish dollars and believe that further gains are likely, there's just under two months to the next monetary policy meeting and the dollar is overbought," she said in a note to clients.
The dollar inched down about 0.1 percent on the day to 124.030 yen, after rising as high as 124.58 overnight, its highest level since June 10.
The euro edged about 0.1 percent higher to $1.0938, after dropping to a one-week low of $1.0835 on Thursday.
The dollar index, which tracks the greenback against abasket of six major rivals, was about 0.2 percent lower at 97.417, after rising to a one-week high of 97.773 overnight.
Crude oil slipped for a second session as concern over global oversupply intensified after the head of the OPEC oil exporters' cartel indicated there would be no cutback in production. U.S. crude was down 0.3 percent at $48.2 a barrel.
London copper too was facing its biggest monthly loss since January amid sputtering Chinese demand and a stronger dollar. It's set for a near 9 percent slump over July, its weakest showing since January, and the second-worst performance since 2012.
The stronger dollar also pushed down gold, which is on track for a sixth straight weekly fall, its longest retreat since 1999. It fell 1 percent with a 5-1/2-year low in sight. Spot gold was last steady on the day at $1,085 per ounce.
"We believe there's enough here for the Fed to raise interest rates for the first time in nine years," said Kathy Lien, managing director at BK Asset Management in New York.
"While we are bullish dollars and believe that further gains are likely, there's just under two months to the next monetary policy meeting and the dollar is overbought," she said in a note to clients.
The dollar inched down about 0.1 percent on the day to 124.030 yen, after rising as high as 124.58 overnight, its highest level since June 10.
The euro edged about 0.1 percent higher to $1.0938, after dropping to a one-week low of $1.0835 on Thursday.
The dollar index, which tracks the greenback against abasket of six major rivals, was about 0.2 percent lower at 97.417, after rising to a one-week high of 97.773 overnight.
Crude oil slipped for a second session as concern over global oversupply intensified after the head of the OPEC oil exporters' cartel indicated there would be no cutback in production. U.S. crude was down 0.3 percent at $48.2 a barrel.
London copper too was facing its biggest monthly loss since January amid sputtering Chinese demand and a stronger dollar. It's set for a near 9 percent slump over July, its weakest showing since January, and the second-worst performance since 2012.
The stronger dollar also pushed down gold, which is on track for a sixth straight weekly fall, its longest retreat since 1999. It fell 1 percent with a 5-1/2-year low in sight. Spot gold was last steady on the day at $1,085 per ounce.
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