India, June 1 -- The U.S. dollar declined against major currencies during the week ended May 29 amidst reports of a tentative deal between the U.S. and Iran that lifted global risk sentiment.
Peace hopes suppressed safe haven demand triggered by the exchange of fire and fresh hostilities between the two countries earlier in the week. Risk appetite improved on Friday, dragging down the dollar, as the deal was expected to allow the opening of the Strait of Hormuz, the start of nuclear talks as well as an extension of the ceasefire by 60 days.
During the week ended May 29, the U.S. dollar inter alia declined against the euro, the British pound, the Australian dollar, the Swedish krona, the Canadian dollar as well as the Swiss franc. It howev...