The dollar was set to cap the week on a strong note on Friday as it notched a two-year high bolstered by a hawkish U.S. rate outlook, while the yen struggled to stay afloat as it again weakened to a new low.

The yen hit a five-month low in the upper 157 range against the U.S. dollar in Tokyo on Friday morning as expectations of interest ra

The yen’s outlook is deteriorating after the Bank of Japan skipped a potential rate hike, while the central bank’s economic statement can be seen as somewhat dovish, according to strategists.