The dollar index fell below 101 on Friday, ending a five-session rally that had lifted the greenback to July highs. The dollar nevertheless gained about 1% for the week, recording a second consecutive weekly advance. A modest decline in oil prices offered some relief to investors worried about inflation after signs that U.S. and Iranian negotiators may be considering a phased agreement to reopen the Strait of Hormuz. The dollar’s broader weekly strength was supported by expectations of further Federal Reserve monetary policy tightening, continued Middle East uncertainty, rising oil prices and resilient U.S. economic activity. Against the yen, the greenback was mostly lower on Friday after Japanese authorities said Tokyo and Washington remained committed to the position behind their joint interventions in July. Finance Minister Katayama said President Trump had raised concerns about the yen during a meeting with Prime Minister Sanae Takaichi earlier this week.