Analysis: Dollar is approaching its lowest level since the Fed started raising rates

The dollar fell to its lowest level since the Fed started raising rates on Friday after Fed Chairman Jerome Powell all but signaled an end to the Fed's inflation fight. Data showed that the dollar hit a 52-week low against a basket of currencies, extending its recent decline on expectations of rate cuts in the coming months. The policy change is expected to change the direction of capital flows in global markets. However, a weaker dollar tends to help U.S. companies sell goods and services overseas.