The greenback staged a big rally on Friday following the unpredicted cut of the Swiss National Bank that project Fed for more tightening cycle.

The dollar index that gauges the greenback versus its major pairs advanced 0.4% at 104.0865, close to the three-week peak and on course for second consecutive gains.

The Swiss National Bank's decision to lower interest rates while citing the strength of the franc as justification marked the most significant surprise among a week filled with central bank meetings.

This action has led traders to reconsider the Fed's probable future steps, following this week's FOMC meeting where officials reiterated the possibility of three interest rate cuts this year, contingent on the economic data.

The U.S. central bank also significantly improved its growth forecast for 2024. Additionally, Thursday's data indicated that the U.S. economy continued to perform well, with a surprising decrease in new unemployment benefit claims and the largest increase in sales of previously owned homes in a year recorded for February.

On Thursday, the central bank opted to keep interest rates unchanged. However, two members of the MPC withdrew their support for a rate increase due to decreasing inflationary pressures.

EUR/USD plunged 0.4% to 1.0814, the outlook for the industrial sector in the region remains dire, as indicated by the latest figures on eurozone activity.

GBP/USD slumped 0.5% to 1.2588, dipping to the lowest level in one month.

USD/CHF edged up 0.4% to 0.9009.

USD/JPY dipped 151.59, near to its highest level in four months, with the yen experiencing sharp losses.