{"id":3040,"date":"2026-06-26T22:39:30","date_gmt":"2026-06-26T22:39:30","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=3040"},"modified":"2026-06-26T22:39:30","modified_gmt":"2026-06-26T22:39:30","slug":"dollar-declines-for-second-straight-day-but-set-for-weekly-gain","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=3040","title":{"rendered":"Dollar declines for second straight day but set for weekly gain"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>NEW YORK, June 26 (Reuters) &#8211; The dollar fell for a second straight session on Friday as recent economic data and a drop in oil prices slightly cooled \u200bexpectations for Federal Reserve rate hikes, although the yen remained in territory that left it primed for an intervention.<\/div>\n<div>Despite \u200cthe recent declines, the greenback was still up for the week and on pace for its strongest monthly percentage gain since July after hitting a 13-month high earlier in the week.<\/div>\n<div>Thursday&#8217;s data showing a key measure of U.S. inflation met economists&#8217; expectations and easing oil prices, down about 4% on Friday, have moderated \u200brate-hike bets slightly.<\/div>\n<div>Markets are still pricing in an increase in rates of roughly 25 basis points from the Fed this \u200byear, according to LSEG data.<\/div>\n<div>The dollar had kicked off the week with three straight days of gains, continuing \u2060an uptrend that began the prior week after a policy statement from the Fed, and first under new Chairman Kevin Warsh, was \u200blargely seen as hawkish by market participants.<\/div>\n<div>&#8220;Not only has it been Warsh and some new data, but it&#8217;s also been kind of a \u200bdollar bull market since January,&#8221; said Joseph Trevisani, senior analyst at FXStreet in New York.<\/div>\n<div>&#8220;So a little bit of pullback is not surprising.&#8221;<\/div>\n<div>Inflation data that was softer than feared on Thursday helped spark the retreat in the dollar.<\/div>\n<h2>CONSUMER SENTIMENT RISES SLIGHTLY<\/h2>\n<div>On Friday, the University of Michigan&#8217;s Surveys of Consumers said its Consumer Sentiment \u200bIndex increased to a final reading of 49.5 this month, slightly below the 50.0 estimate of economists polled by Reuters, from 44.8 in May, \u200balthough concerns about inflation remain.<\/div>\n<div>The dollar index , which measures the greenback against a basket of currencies, fell 0.19% to 101.32 but was on track for \u200ca second \u2060straight weekly gain, with the euro up 0.18% at $1.1389.<\/div>\n<div>Minneapolis Fed President Neel Kashkari said on Friday that the central bank may need to raise rates amid broad inflation.<\/div>\n<div>On Thursday, Federal Reserve Bank of New York President John Williams said that while inflation pressures are likely to moderate this year, they remain too high, and pushed back his timeline for getting inflation back to the Fed\u2019s 2% target.<\/div>\n<div>U.S. crude dropped 3.6% to $69.33 a \u200bbarrel and Brent fell to $72.02 \u200bper barrel, down 4.34% on the day, \u2060and were on track for weekly declines of nearly 10% as more oil tankers exited the Strait of Hormuz.<\/div>\n<div>Sterling strengthened 0.09% to $1.3203 but was on track for a second straight weekly decline.<\/div>\n<div>Against the Japanese yen , \u200bthe dollar shed 0.02% to 161.74. Crossing the 161.96 mark would take the Japanese currency to its \u200bweakest level since \u20601986. For the week, the greenback is up 0.29% and poised for a second straight weekly advance.<\/div>\n<div>Data showed on Friday that core inflation in Tokyo accelerated in June, providing additional support for the yen.<\/div>\n<div>Analysts at Wells Fargo said the risk reward is to be tactically short the dollar against \u2060the yen \u200bheading into the U.S. jobs report next week, &#8220;given intervention risks,&#8221; as &#8220;authorities could capitalize on \u200ba weak or even a slightly soft U.S. payrolls print.&#8221;<\/div>\n<div>They stressed, however, that this is a near-term play and still want to be long beyond early July.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=3039\">Texas state school board approves mandated reading list including Bible passages<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=3037\">Wall St Week Ahead: Jobs data, rate bets in focus as US stocks close solid first half<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=3035\">OpenAI defers public rollout of GPT\u20115.6 as US seeks early access to frontier AI models<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dollar fell for a second straight session on Friday as recent economic data and a drop in oil prices slightly cooled \u200bexpectations for Federal Reserve rate hikes, although the yen remained in territory that left it primed for an intervention.<\/p>\n","protected":false},"author":1,"featured_media":487,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[38],"class_list":["post-3040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-currencies"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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