U.S. Dollar Falls to Lowest Level Since May as Fed Expectations Shift

The U.S. dollar has fallen to its lowest level since May.
The Bloomberg Dollar Spot Index is down roughly 1.7% this quarter, with softer retail sales pushing markets to further reduce expectations for another Fed rate hike this year.
A weaker dollar can provide a tailwind for commodities, gold and international equities by improving foreign-currency returns for U.S. investors and easing financial conditions abroad.
After acting as a major headwind for international assets over the past two years, the dollar may now be shifting into a tailwind.
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