Early trade in New York: Dollar flat as investors look to inauguration

Market uncertainty ahead of the inauguration of US President-elect Donald Trump kept the dollar muted in choppy trading on Friday after a volatile week that underlined the growing uncertainty over how Trump will govern.
The US currency was little changed from its late Thursday levels against a basket of major currencies, but remains 3.5 percent higher since Trump's election victory in November. However, it has shed more than 1 percent in value so far in January as concerns grow over Trump's protectionist rhetoric and recent comments about his dissatisfaction with the strong dollar.
Dollar traders largely took bets off the table, analysts said, a reflection of Friday's dearth of US data and investors' anxiety over what the new president will say in his inaugural address.
"Everybody's waiting for Trump," said Charles St-Arnaud, senior strategist and economist at Nomura Securities International in London.
The dollar index was flat at 101.130 and was little changed for the week.
The euro was flat against the dollar, hovering around $1.0665, just above 7-week lows hit on Tuesday. It was on pace to gain 0.2 percent for the week, its fifth consecutive weekly rise.
The dollar rose 0.1 percent against the yen in choppy trading, vacillating on either side of the 115 yen mark, which analysts said represented an important psychological barrier for the currency pair. It was last at 114.95 yen.
The British pound dipped 0.2 percent to $1.233. Sterling was on pace to rise more than 1 percent versus the dollar for the week, aided by its largest one-day percentage gain against the greenback since at least 1998 on Tuesday.