The dollar index (DXY00) on Friday fell by -0.20%. The dollar moved lower on Friday but remained above Thursday's 1.5-week low. The dollar was under pressure after President Trump late Thursday nominated Stephen Miran to be a temporary replacement for Adrianna Kugler as Fed Governor. Miran is currently chairman of the Council of Economic Advisors and is seen as dovish and supporting President Trump's calls for lower interest rates.
The dollar Friday was also undercut by strength in stocks, which reduces liquidity demand for the dollar. Higher T-note yields on Friday limited losses in the dollar.
