The dollar index (DXY00) on Friday fell by -0.07%. The dollar moved lower on Friday amid weakness in crude oil prices. WTI crude oil fell more than 3% on Friday to a 4-month low, easing inflation expectations and potentially persuading the Fed to ease monetary policy, a negative factor for the dollar. The dollar fell to its low on Friday after the University of Michigan's US Jun consumer sentiment index came in weaker than expected.
The dollar recovered from its worst level on Friday amid hawkish comments from Minneapolis Fed President Neel Kashkari, who said he's "concerned about inflation" and favors an interest rate increase this year.
