Dollar steadies on ceasefire prospects, PPI eases pressure on Fed

The dollar found its footing in early trading on Friday, after sliding to its weakest in a week as traders parsed reports that a ceasefire deal in the Middle ​East could be imminent. Against the yen , the US currency was up 0.1% at 160.07 yen. The ‌Australian dollar was down 0.1% at $0.7045, while its kiwi counterpart was down 0.1% at $0.5830. The euro last bought $1.1576, holding near its strongest in a week after the European Central Bank’s first interest rate hike in three years on Thursday. The British pound was flat ​at $1.3414. “Markets reversed late in the US session after President Trump cancelled planned attacks on Iran, suggesting a ​deal could be signed as soon as this weekend,” analysts from Westpac wrote in ⁠a note to clients.