The dollar headed for weekly gains against the euro and the yen as improving economic data backed speculation the Federal Reserve will remove stimulus this year.

The greenback rose for a fifth day yesterday against a basket of peers after data showed manufacturing in the Philadelphia region grew at the fastest pace in seven months. Other figures showed the number of Americans filing for unemployment insurance payments hovered near a seven-year low, while an index of leading indicators next week is forecast to rise. Australia’s dollar headed for its worst week since January. Currency volatility sank to an almost seven-year low.

“The jobless claims and Philadelphia Fed reports were both good, and the dollar was bid on the back of that,” said Kazuo Shirai, a trader at Union Bank NA in Los Angeles. “If U.S. jobs numbers stay positive, the Fed will probably continue to taper at the current pace.”

The dollar was little changed at $1.3816 per euro at 10:52 a.m. in New York, set for a 0.5 percent weekly advance. It was unchanged at 102.42 yen after touching 102.57, the strongest level since April 8, and is set for a 0.8 percent advance since April 11. The euro traded at 141.46 yen from 141.44, and has strengthened 0.2 percent this week.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, was little changed at 1,010.39, after ending yesterday at 1,010.68, the highest closing level since April 7.

The Aussie was at 93.36 U.S. cents from 93.30 cents, set for a 0.7 percent decline this week, the most since the five days to Jan. 24. It touched 94.61 on April 10, the highest since Nov. 8.