The dollar index (DXY00) fell to a 7-week low today and is down by -0.10%. Easing geopolitical tensions in the Middle East are boosting stocks and reducing safe-haven demand for the dollar. Also, today's -6% plunge in WTI crude oil prices lowers inflation expectations and could prompt the Fed to loosen monetary policy, a negative factor for the dollar. German June retail sales fell -1.1% m/m, weaker than expectations of -0.3% m/m and the biggest decline in 13 months. In addition, today's -6% slump in crude oil prices is bullish for Japan's economy and the yen as Japan imports more than 90% of its energy.