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The greenback shed over 4 percent against a basket of major currencies in the first quarter, as turbulent global markets and an increasingly cautious tone from the Fed pushed back expectations for when U.S. rates might rise again, after the first increase in almost a decade in December.
The dollar index was down 0.1 percent on Friday at 94.60, having hit a 5 1/2-month low of 94.319 on Thursday.
"The most important number for the U.S. dollar is the average earnings ... but even if we see a better number, this will create hope but it will not convince the market that everything is OK," said Commerzbank currency strategist Esther Reichelt, in Frankfurt.
Against the yen, the dollar slipped about 0.4 percent on Friday to 112.17. It slid more than 6 percent against the yen in the first quarter, its biggest loss since 2009, as market turmoil sent investors into the perceived safety of the Japanese currency.
"The lack of reaction is a bit perplexing. I think the lead will come out of the U.S.," said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance.
U.S. non-farm payroll data, to be released later on Friday, will also give direction to oil prices, Barratt said.
Oil futures fell on Friday as oversupply, a strengthening dollar and weaker Asian stock markets dragged on sentiment, but data showing lower U.S. oil output helped put a floor under prices.
Brent crude for June delivery LCOc1 fell 23 cents to $40.10 a barrel as of 0704 GMT. The May contract, which expired on Thursday, settled up 34 cents at $39.60 a barrel. Brent rose 6 percent in the first quarter, its first such increase since a 15 percent rally in the second quarter of 2015.
U.S. crude CLc1 fell 33 cents to $38.01 a barrel after settling up 2 cents on Thursday. Prices rose almost 4 percent over January-March, also the first quarterly gain since surging nearly 25 percent in the second quarter of last year.
WASHINGTON (MarketWatch) — Banks are reducing their credit exposure to the energy sector in the wake of the plunge in oil prices, according to the latest Federal Reserve survey of senior credit officers released Thursday.
Reference: Reuters, MarketWatch
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