Dollar falls vs. euro as likelihood of September rate hike fades

The dollar posted a weekly decline against the euro Friday as investors adjusted their positions ahead of the weekend to reflect declining expectations for a Federal Reserve interest-rate increase next week.

After weakening against the dollar early Friday, the shared currency turned higher following a preliminary reading on consumer sentiment in September from the University of Michigan, which came in at 85.7, its lowest level in a year.

But analysts said the currency’s moves likely had more to do with end-of-week position adjustments because the poor sentiment reading was hardly a surprise.

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