India, Feb. 5 -- A stunning job market update from the U.S last week dashed hopes of an immediate monetary policy pivot by the Federal Reserve and revived the fortunes of the greenback. In the week spanning January 29 to February 2, the U.S. dollar gained against the euro, the British pound, the Australian Dollar as well as the Japanese Yen.
The Dollar Index, which measures the Dollar against a basket of 6 specific currencies viz the euro, the Japanese Yen, the British pound, the Canadian Dollar, the Swedish Krona, and the Swiss Franc also surged during the past week.
The Dollar Index which had closed at 103.43 on January 26 in the backdrop of mild PCE-based inflation readings, opened on Monday, January 29 at 103.47. On Tuesday, data rele...