The dollar is set for its longest weekly losing streak since May as sluggish economic data underscores investor expectations that the Federal Reserve won’t raise interest rates this year.

The greenback fell against most of its 16 major counter parts over the past week, with the New Zealand dollar and the yen among the biggest gainers for developed-nation currencies. The kiwi headed for its steepest three-week gain in two years against the dollar while the yen was set for its best five-day performance since the start of September.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency versus 10 peers, was at 1,186.36 as of 9:11 a.m. in Tokyo. It was at 1,185.23 in New York, the lowest closing level in more than three months. The gauge has dropped 0.6 percent since Oct. 9.

The U.S. currency was little changed at 119.12 per yen, set for a weekly loss of 1 percent. The New Zealand dollar fell 0.2 percent to 68.37 U.S. cents after advancing 0.9 percent on Thursday. The kiwi has climbed 7.1 percent since Sept. 25, the best three-week performance since September 2013.

Source: Bloomberg