The University of Michigan's preliminary consumer sentiment index for May is due at 10:00 am ET Friday. The consumer sentiment index is expected to edge down to 98.3 in May after falling to 98.8 in April.

Ahead of the data, the greenback dropped against its major opponents.

The greenback was worth 1.1958 against the euro, 109.22 against the yen, 0.9983 against the franc and 1.3570 against the pound as of 9:55 am ET.

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