Dollar weakens against the euro for the 5th straight week

The dollar depreciated against the euro for a fifth straight week on Friday, as weak U.S. economic data prompted traders to push back their expectations for when the Federal Reserve will raise interest rates.

“It’s not the huge rally we had [in the second quarter] last year,” said Colin Cieszynski, chief markets strategist at CMC Markets.

The euro EURUSD, +0.3418%   traded at $1.1446, a three-month high, compared with $1.1400 Thursday; the pound GBPUSD, -0.3169%  traded at $1.5725, compared with $1.5774 Thursday; the dollar USDJPY, +0.09%  traded at ¥119.38, compared with ¥119.21.

The ICE U.S. Dollar Index DXY, -0.17% a measure of the dollar’s strength against a basket of six rivals, was down 0.2% to 93.2710.

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