Currencies are trading in a scattered ranking this Friday. While the South African rand is stable and the ruble is rising, the dollar is heading for a weekly loss.

The dollar is heading for a weekly loss as investors expect Fed hikes to slow. While the prospect of a slowdown in the Federal Reserve's monetary policy tightening as early as December dominated investor minds and kept the mood going, the dollar neared its lowest level in three months and was on track for a weekly loss on Friday.

While the U.S. dollar traded lower, the South African rand was little changed in early transactions on Friday. The rand was still trading around its closing level last night of 17.0100 per dollar at 0615 GMT. The Dollar Index was down 0.076% to 105.79.

The euro fell by 0.06% to $1,04045, but remained close to $1,04045, its highest level in more than four months last week. The Chinese offshore yuan was recently down 0.1% to 7.1759 per dollar.

For its part, the Russian ruble is rising. It strengthened on Friday, trading in a narrow range between 60 and 61 per dollar. That was also the case for much of the week, supported by exporters buying rubles to cover month-end tax payments. The ruble strengthened by 0.3% against the yuan to 8.43 while it rose by 0.3% against the dollar at 60.50 and gained 0.5% to trade at 62.90 against the euro at 0710 GMT.

The pound rose more than 0.5% and last settled at $1.21125, close to its more than three-month high of $1.2153 reached in the previous session and on track for a weekly gain of nearly 2%. The Japanese yen jumped around 0.7% overnight and was last purchased at 138.60 per dollar.

Kiwi has slipped 0.19% to $0.6252, but it's not far from its three-month peak reached in the previous session. Meanwhile, Aussie fell by 0.17% to $0.6753, after rising more than 0.4% overnight. The New Zealand dollar was heading for a weekly gain of over 1.5%, helped by the Reserve Bank of New Zealand's rate hike of 75 bps earlier in the week and by its Hawkish rate outlook.