Dollar retreats as consumer sentiment dives

NEW YORK FX Signals – (Reuters) – The U.S. dollar fell to a one-week low against a basket of currencies on Friday, after a survey showed U.S. consumer sentiment dropped sharply in early August, raising worries of a dent in economic activity.

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The University of Michigan said its preliminary consumer sentiment index fell to 70.2 in the first half of this month from a final reading of 81.2 in July.

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Investors this week have been treated to a mixed bag of data.

US Dollar Gains Risk Sentiment Hit by Equity

Dollar Weakens Risk Sentiment

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Dollar retreats as consumer sentiment dives

Consumer Sentiment COVID19

Dollar retreats as consumer sentiment dives

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At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded around 0.1% lower at 92.977, just below Wednesday’s four-month high of 93.195, and suggesting a weekly gain of 0.2%.

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