Dollar set for losing week
The U.S. dollar edged higher on Friday, but was headed for a weekly loss after core inflation eased, while sterling weakened following weak retail sales data.
At 4:30 AM ET (09:30 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.1% higher at 108.930, but was set for a decline of about 0.5% for the week, which would snap a six-week winning streak.
Dollar set for weekly loss
The dollar has weakened this week after cooler-than-expected inflation data raised the possibility of looser monetary policy this year, even as Federal Reserve policymakers indicated they would be cautious in their approach to cutting interest rates this year.
Source: Investing.com