Forex Market Update

The dollar finished the week about 1.5% lower against the euro Friday, snapping three weeks of gains.

The bulk of the dollar’s losses occurred after Federal Reserve policy makers said that they expect to begin raising interest rates later in the year—and more gradually—than the market expected.

The euro EURUSD, +1.50%  traded at $1.0821, compared with $1.0668 Thursday.

The ICE U.S. Dollar Index DXY, -1.28% a measure of the dollar’s strength against six rival currencies, finished the week down 2.4% at 97.6000.