The U.S. dollar was higher against its major counterparts in the New York session on Friday, as investors awaited the release of U.S. inflation data for April next week, which will guide the outlook for Fed rate cuts.

The consumer price index is forecast to rise 0.3 percent on the month and 3.4 percent annually, down from 0.4 percent and 3.5 percent, respectively in March.

Federal-funds futures currently show traders expect the Fed to start lowering its benchmark interest rate in November though there remains a chance of a cut in September.

Last week's softer-than-expected employment data for April fuelled hopes that the U.S. central bank will deliver two quarter-point cuts this year.

Market focus will also be on producer prices for April due on Tuesday and retail sales for April scheduled on Wednesday.

The greenback rose to 1.2502 against the pound and 0.9085 against the franc, from its early 3-day lows of 1.2541 and 0.9050, respectively. The greenback is likely to find resistance around 1.22 against the pound and 0.93 against the franc.

The greenback climbed to 0.6595 against the aussie, 0.6008 against the kiwi and 1.0760 against the euro, from an early 3-day low of 0.6622, 1-week low of 0.6040 and a 4-day low of 1.0790, respectively. Immediate resistance for the currency is seen around 0.64 against the aussie, 0.58 against the kiwi and 1.06 against the euro.

The greenback recovered to 1.3673 against the loonie, reversing from an early 1-week low of 1.3630. If the greenback continues its uptrend, 1.39 is possibly seen as its next resistance level.

Against the yen, the greenback reached as high as 155.90. Next key resistance for the currency may be located around the 160.00 level.

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