Futures show 76% likelihood that Fed will act on Dec. 16 The dollar rose for a second day against the yen ahead of next week’s Federal Reserve meeting, when investors anticipate policy makers will raise interest rates for the first time in almost a decade. The greenback advanced against most of its developed-market peers Friday, a day after posting its first gain in three sessions versus the yen and euro. Japan’s currency dropped the most in a week, trimming its best weekly performance for three months, as the nation’s stocks rallied from a three-day slide. Australia’s dollar extended its biggest weekly decline in a month after key export iron ore experienced its longest slump since 2008. “A U.S. rate hike is mostly a done deal, and there’s potential for some dollar buying,” said Masakazu Satou, a currency adviser at Gaitame Online Co., a retail foreign-exchange brokerage in Tokyo. “There […]