The US dollar is on track to end its four-week winning streak, following remarks by Federal Reserve Chairman Kevin Warsh that failed to provide any significant support. The Bloomberg Dollar Spot Index dropped as much as 0.4% on Friday, marking its worst weekly performance since September 4, 2026.
The greenback weakened against most major currencies, with the euro making gains and poised to break a five-week losing streak. Warsh's comments did not offer the boost that dollar bulls had hoped for, leading to a broader decline in the currency's value.
The dollar's decline comes despite recent strength, as traders reassess the outlook for US monetary policy. The lack of clear guidance from Warsh has contributed to the currency's struggles this week.