The dollar recovered from a five-month low on Friday, rising against most major currencies, as traders covered short positions after two straight days of selling in the wake of the Federal Reserve's cautious view on global market developments. The dollar index, which measures the greenback against six major currencies, was up 0.15 percent in tight trading but analysts said doubt remained that the US currency would regain its footing in the near term.
The dollar was flat against the yen after moving up from a 17-month low on Thursday, with traders worried that a sharp rise in the Japanese currency would elicit some kind of intervention from the Bank of Japan. The dollar was trading at 111.45 yen, off a low of 110.67 plumbed on Thursday that was its weakest since October 2014. The euro retreated from a five-week high of $1.1342 , falling 0.2 percent to $1.1294. The dollar's rebound from the previous days' lows was limited in part by the continued strength of emerging market currencies.
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