The Dollar is Heading for its Biggest Weekly Decline in 7 Months

The dollar fell on Friday against most of its rivals except for the British currency, as the strength of the stock market and higher bond yields boosted the appetite for riskier assets.

To stabilize their currencies, investors pushed the euro to $ 1.18 for the first time in more than three months.

In early trade, the dollar index fell 0.1 percent to 93.82, its lowest level in nearly three months and headed for the biggest weekly drop since early February. The single European currency jumped 0.2 percent to $ 1.18, bringing its gains this week to around 1.5 percent.

The Australian dollar jumped to a three-week high of $ 0.7297.

The pound was the only loser against the dollar, falling 0.4 percent to $ 1.3217 on concerns of British secession.