The dollar fell on Friday due to a weaker-than-expected US consumer sentiment report and concerns about US monetary policy. Retail sales in July were slightly weaker than expected, but June was revised higher, leaving the report neutral for the markets. The University of Michigan’s consumer sentiment index fell, with 58% of consumers planning to cut spending due to inflation. Chinese economic reports showed weakening growth, impacting global outlook. President Trump mentioned setting tariffs on steel, chips, and semiconductors. Federal funds futures prices show an 85% chance of a -25 bp rate cut in September. Gold prices fell as expectations for a rate cut decreased, but continue to have safe-haven support.

Read more at Yahoo Finance: Dollar Falls on Weaker US Consumer Sentiment