Dollar Slips as Lower Crude Prices Ease Rate-Hike Concerns

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.

Dollar Weakens on Strength in Stocks and Lower Bond Yields

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US May wholesale inventories rose +0.3% m/m, weaker than expectations of +0.4% m/m.  May retail inventories rose +0.6% m/m, stronger than expectations of +0.5% m/m.

The University of Michigan US Jun consumer sentiment index was revised upward by 0.6 to 49.5, below expectations of 50.0.

The University of Michigan US Jun 1-year inflation expectations were left unrevised at 4.6%,

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/currencies/articles/dollar-slips-lower-crude-prices-193405913.html)