LONDON, March 15 Reuters The dollar was on track for a weekly gain versus major currencies while the yen drifted lower on Friday, ahead of a flurry of highlyanticipated central bank meetings next week, including of the U.S. Federal Reserve and Bank of Japan.

Japan39;s biggest companies agreed with labour unions to raise wages by the highest level in 33 years on Friday, reinforcing views that the country39;s central bank is poised to make a landmark shift away from negative interest rates.

Investors are watching other central bank decisions closely for signs of how quickly they will cut interest rates after a period of rapid rises to curb rampant inflation. The Bank of England and Swiss National Bank are also due to meet next week.

The dollar index which tracks the U.S. currency against six major peers dipped 0.1 on the day to 103.31. It is on course to snap a threeweek losing streak with a 0.6 weekly gain.

While the Fed is not expected to change interest rates, hotterthanexpected U.S. producer and consumer price data this week has led traders to rein in bets on future cuts.

Markets now price in a 59 chance of the Fed cutting rates in June, compared to 74 a week earlier, according to the CME FedWatch tool.

While we don39;t think the developments will be sufficient at this stage to prompt the Fed to adjust their plans for three rate hikes this year… it is likely that the Fed will display more caution over the inflation outlook in the nearterm, currency analysts…