Dollar Falls Amid Weak US Economic Data and Crude Oil Price Drop
The dollar index DXY dropped by -0.05% on Friday due to weaker-than-expected US economic news.
The non-farm payrolls and average hourly earnings rose less than anticipated, reducing the likelihood of a Fed rate hike later this month.
A decline in WTI crude oil prices also contributed to the dollar's fall, as it lowered inflation expectations and could prompt the Fed to loosen monetary policy.