The dollar index (DXY00) on Friday fell slightly by -0.04%. The dollar was undercut by Friday’s -5 bp decline in the US 10-year T-note yield after the US PCE deflator report was in line with market expectations and kept alive hopes for the Fed to cut interest rates later this year. T-note yields also fell on Friday’s weaker-than-expected US personal spending report. The April PCE deflator report of +0.3% m/m and +2.7% y/y was unchanged from March and was in line with market expectations. The April core PCE deflator report of +0.2% m/m and +2.8% y/y was also in line with market expectations. Th…