MARKETWATCH, NEW YORK — The dollar fell to its weakest level since July 2008 on Friday, then pared losses after U.S. data on spending and incomes. The ICE Dollar Index, which measures the U.S. currency against a basket of six major rivals, has fallen for a fifth week—the longest string of losses since September—as traders become more comfortable with the diverging monetary polices of the U.S. and Europe. The index fell as low as 72.834, its lowest point since July 2008. It recently traded at 72.99, from 73.111 in late U.S. trade Thursday. The dollar index is down 1.2% so far this week, ...

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