LONDON—The dollar headed for its longest stretch of weekly losses in almost three years on Friday, as traders ramped up expectations of an imminent end to the U.S. Federal Reserve’s rate-hike cycle following signs that inflation may be cooling.
Data on Thursday showed U.S. wholesale prices, as measured by the producer price index (PPI), fell by the most in nearly three years last month, a day after data showed the consumer index—CPI—was also softening as expected.
