US Dollar closes its worst week since July as investors bet on a dovish Fed

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• The DXY Index stands at 103.90, seeing losses of around 0.40% and tallying a 1.60% weekly decline.
• Investors continue to digest the data reported throughout the week.
• The combo of cooling inflation and the labor market points to the Fed not hiking anymore.
• Fed’s Susan Collins was seen as hawkish on Friday.

At the end of the week, the US Dollar Index saw red and declined to 103.90 to close a 1.60% losing week. Soft inflation figures and weak economic activity data from the US were mainly responsible for the Greenback’s decline.