Fed hike bets lift dollar, yen eyes rare win streak

The dollar rose on Friday as traders bet the Federal Reserve will keep raising interest rates. The yen was set for its first two-week winning streak since May. The dollar gained support from strong U.S. economic data and comments from Fed officials. Both pointed to more rate hikes ahead. Higher rates make the dollar more attractive to investors seeking returns. The yen, meanwhile, held onto recent gains. A two-week win streak would be its first since May. The Japanese currency often moves opposite to U.S. rates, so any pause in dollar strength helps the yen. Investors now wait for the next Fed meeting for clearer signals on the rate path.