India, Aug. 10 -- An unexpected decline in non-farm payrolls in the U.S. dramatically dragged down rate hike expectations from the Federal Reserve, and with it the U.S. Dollar, during the week ended August 7. The massive weekly decline in crude oil prices that curtailed inflationary fears, also aided the greenback's retreat.
During week ended August 7, the U.S. dollar inter alia declined against the euro, the British pound, the Australian dollar, the Canadian dollar as well as the Swedish krona. It however rallied against the Japanese yen, as well as the Swiss franc. As a result, the Dollar Index which measures the Dollar's strength against a basket of 6 currencies dropped more than a quarter percent on a weekly basis. Here is a quick reca...