SINGAPORE, Nov 10 Reuters The dollar was on track for its best week against the yen in three months on Friday, after Federal Reserve Chair Jerome Powell and a chorus of Fed officials poured cold water on market expectations of a peak in U.S. rates.

In cryptocurrencies, bitcoin and ether held near multimonth highs, with renewed speculation over the imminent approval of an exchangetraded bitcoin fund breathing new life into the digital assets.

A slew of Fed policymakers including Powell said on Thursday they are still not sure that interest rates are high enough to finish the battle with inflation, comments taken as hawkish by markets and which sent the greenback rising.

The dollar stood near a oneyear high at 151.355 yen on Friday and touched oneweek highs against the Australian and New Zealand dollars.

Powell39;s speech was quite hawkish, and that just really hit sentiment, said Tina Teng, market analyst at CMC Markets.

The remarks from Fed officials came a week after the U.S. central bank left interest rates steady and cemented expectations that rates could have peaked, causing the dollar and Treasury yields to tumble in the aftermath.

The greenback, however, regained its footing this week and was eyeing a weekly gain of roughly 1.3 against the yen, its best performance since August.

Dollaryen did trend higher this week and it39;s now back above 151. It does raise the risk of the BOJ stepping into the forex market to strengthen the yen, but I think markets are…