The dollar index fell by -0.24% on Friday after Fed Governor Waller’s comments supporting a rate cut at the July FOMC meeting. Stronger US housing starts and consumer sentiment limited losses. Euro rose 0.20% on dollar weakness, despite negative Eurozone economic news. Swaps are pricing in a 1% chance of a rate cut by the ECB.

USD/JPY rose by +0.11% as the yen remains under pressure ahead of Japan’s upper house election. Japan’s June CPI rose, but concerns over fiscal deterioration are bearish for the yen. Precious metals settled higher on Friday due to a weaker dollar and dovish comments from Fed Governor Waller. US economic news was strong, limiting gains in precious metals.

Read more at Yahoo Finance: Dollar Weakens as a Fed Official Calls for Rate Cuts