NEW YORK (CNNMoney.com) -- The dollar ended Friday flat against the euro after rallying to a three-month high on Thursday.
"What we're seeing now is some of the volatility that precedes and is kept during the holidays," said John Kicklighter, an analyst at DailyFX.com. "We're heading into the weekend, and next week is a holiday week so there will be a lot less liquidity and people are not going to want to place any major positions."
The euro was flat at $1.434 on Friday after reaching a high of $1.441 and dropping as low as $1.426 versus the dollar.
"The market still has dollars that it wants to buy back, and now you're getting some momentum traders as well just to make a little bit of money as everyone closes up their books," said Marc Chandler, an analyst at Brown Brothers Harriman.
Stocks had a choppy day of trading as well, ending higher after reversing course throughout the day amid contract expirations and better-than-expected performance among technology shares.
On Thursday, the dollar rose to its highest point since September following the Federal Reserve's decision to hold interest rates steady near zero. In a statement accompanying the decision, Fed policymakers said that they see market conditions improving, spurring optimism among investors.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.80%||3.88%|
|15 yr fixed||3.20%||3.23%|
|30 yr refi||3.82%||3.93%|
|15 yr refi||3.20%||3.23%|
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