India, April 20 -- The U.S. dollar dropped against major currencies during the week ended April 17 as a de-escalation in the Middle East war dimmed safe haven demand for the dollar. The Dollar's weakness came amidst U.S. President Donald Trump's comments that he expected to reach a deal to end the war soon. However, a flare up in U.S.-Iran tensions over the weekend have reignited haven demand, helping the Dollar rebound again.
During week ended April 17, the U.S. dollar inter alia declined against the euro, the British pound, the Australian dollar, the Japanese yen, the Swedish krona, the Canadian dollar 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 m...