The US dollar held steady after rising for five consecutive trading days.

Supported by the Federal Reserve's hawkish stance and high U.S. yields, the dollar index was little changed and is on track for a 1% weekly gain. The spot dollar index edged down 0.1% after rising for five consecutive sessions. The 10-year Treasury yield fell 1 basis point to 5.19%. OCBC currency strategist Shen Mingsong said: "Higher yields, elevated energy prices, and persistent inflation concerns are supporting market demand for the dollar." He added: "Next week's nonfarm payrolls report may determine whether the dollar can extend this rally."