The dollar fell against a basket of major currencies on Friday as continued uncertainty over the economic agenda of U.S. President Donald Trump pushed investors out of the greenback.
The dollar dropped to a four-month low against the yen in early trading but retraced some of its losses after rumors began to swirl about the impending firing of White House senior adviser Steve Bannon. The White House confirmed Bannon's exit in a statement Friday afternoon.
As Trump's chief strategist, Bannon has been seen as representing a right-wing political faction that critics have said encourages white supremacists like those involved in the deadly rioting last weekend in Charlottesville, Virginia.
Bannon has been also seen by some market participants as an opposing force to Trump's chief economic adviser, Gary Cohn, and Treasury Secretary Steve Mnuchin.