Investing.com - The dollar closed the week sharply higher against other major currencies on Friday despite lower expectations of a summer rate hike by the Federal Reserve.The US dollar index, which measures the strength of the greenback against a trade-weighted basket of six major currencies, rose 0.65% on Friday. The index ended the week with gains of 0.56%.Markets have pushed back expectations on the timing of the next rate hike by the US central bank after the dismal May jobs report, which he showed the economy created only 38,000 jobs last month, the smallest increase since September 2010.Fed Watch tool CME Group said Friday that the possibility of a 1.9% FOMC will raise rates in June. The probability of at least one rate hike in 2016 stood at 58.8%.A speech by Fed Chairman Janet Yellen said on Monday that interest rates will not rise until the uncertainty about the economic outlook is resolved.Yellen said he expects economic recovery to continue, but gave no indication of the date of an upcoming rate increase.The Fed raised interest rates for the first time in nearly a decade in December.The highest rates are positive for the dollar because the US currency make more attractive to investors seeking yield.The USD / JPY down 0.10% to 106.98 on Friday. The pair finished the week up 0.42%.EUR / USD ended the day at 1.1251 on Friday, down 0.57% for the day, bringing losses to 1.02% the week.Sterling was much lower, with GBP / USD falling 1.39% on Friday at 1.4258. The pair finished the week down 1.8% amid ongoing uncertainty over whether Britain will remain in the European Union or in a referendum on 23 June.The commodity currencies were linked in lower general.AUD / USD down 0.79% to 0.7372, NZD / USD fell 0.65% to 0.7059 and USD / CAD gained 0.50% to trade at 1.2785 on Friday.Next week, investors will be focusing on monetary policy announcement Wednesday by the Fed for clues about the future direction of interest rates in the United States.monetary policy meetings in Japan, Switzerland and the United Kingdom also will be closely watched.Before next week, Investing.com has compiled a list of these and other significant events likely to affect the markets.Monday, June 13Australian financial markets will be closed for a holiday.Closed on 14 JuneAustralia is to publish data on private sector business confidence.The UK is to produce a report on consumer price inflation.The USA. will release data on retail sales and import prices.Closed on 15 JuneThe UK will release the monthly employment report.Canada is to publish data on manufacturing sales.The USA. will release reports on producer prices, industrial production and manufacturing activity in the New York region.The Federal Reserve will announce its benchmark interest rate and publish its rate statement and economic projections at the conclusion of its policy meeting two days. The announcement should be followed by a press conference by Fed Chairman Janet Yellen.Closed on 16 JuneNew Zealand is to publish data on economic growth in the first quarter.Australia will release its monthly employment report.The Bank of Japan will announce its benchmark interest rate and publish its rate statement, which summarizes economic conditions and the factors that influence the monetary policy decision.The SNB is also for its next review of monetary policy. The announcement of the Libor rate is to be followed by a press conference.The UK data on retail sales will be published.The euro zone is to produce revised data on inflation.The Bank of England will announce its latest monetary policy decision at the conclusion of its monthly meeting.The USA. will release reports on consumer prices, initial claims and manufacturing activity in the Philadelphia region.Closed on 17 JuneCanada is to announce its latest inflation report.The USA. It is to round up the week with data on building permits and housing started.