The yen rose against the US dollar after Japan's finance minister said it was necessary to curb unilateral bets on the yen. The trend of the US dollar index fluctuated during the day, while the Swiss franc performed the worst among the G-10 currencies.

The Bloomberg US dollar index is basically flat and is expected to rise for the fourth week in a row, and the full year's performance is at its best since 2015.

USD/JPY fell 0.4% to 157.35, then the decline narrowed to 157.93.

Japan's Finance Minister Katsushin Kato said that the government will take appropriate measures to deal with excessive fluctuations in the foreign exchange market.

A summary of the views of the meeting released by the Bank of Japan on Friday shows that members of the committee held a meeting last week to discuss the timing of interest rate hikes.

Jordan Rochester, head of macro strategy at Mizuho, said that given the US tariff risk and rising expectations that the Fed will only cut interest rates for a limited time in 2025, traders are aware that if the yen continues to weaken, the risk of intervention facing the yen will rise; breaking through 160 and moving towards 162 may trigger official purchases of yen.

“EUR/USD and GBP/USD attracted the most capital at the end of the quarter and around the end of the year, but this is likely to happen with USD/JPY and USD/CAD,” wrote Brad Bechtel, global head of foreign exchange at Jefferies.

“In terms of levels, the short-term resistance of GBP/USD will be in the 1.2600 area, followed by the 50-day moving average of 1.2744, with good support below about 1.2480,” he wrote. “The resistance above EUR/USD is 1.0450, and breaking through this level opens the door to a return to the 1.0500 pivot area.”

GBP/USD rose 0.4% to 1.2577; GBP/USD saw the smallest decline this quarter, making it the best performing currency during the same period.

EUR/USD rose 0.1% to 1.0427 on Friday.

USD/CHF rose 0.3% to 0.9020.