The dollar remained weak versus a basket of major currencies on Friday, touching the 102 area for the first time since last June.

The US Dollar started out strong today before falling flat, with the bond market fretting over former US President Donald Trump’s spending plans.

The U.S. dollar extended yesterday's gains (0.76%) as a solid U.S. labor market bolstered the Federal Reserve's case for continuing to raise interest rates.

The U.S. dollar is struggling to find demand at the start of the week, with the greenback plunging to multi-month after losing more than 1% on Friday.

The USD closed marginally lower yesterday after recurring claims for jobless benefits rose to the highest level since the end of 2021.

The U.S. dollar continued to fall versus its major rivals at the start of the week, weighed down by better market sentiment and dovish Fed predictions.

On Thursday, the dollar index dipped below 103, returning to its lowest level in seven months, as investors react to U.S. inflation data that could impact the pace of Federal Reserve interest rate hikes.

On Tuesday, the U.S. dollar index remained above 102 as investors assessed the anticipated pace of Federal Reserve interest rate hikes against the backdrop of declining U.S. inflation and a weaker GDP forecast.

The dollar index bottomed around 102, near levels not seen since June 2022. Investors fled the greenback amid expectations that slowing inflation will allow the Federal Reserve to ease up on its aggressive tightening.

The USD rose 0.15% yesterday, experiencing haven demand after a relatively hawkish Fed dot plot and concerns about the French election.