India, April 13 -- The U.S. dollar plunged against major currencies during the week ended April 10 as a ceasefire between the U.S. and Iran limited safe haven buying.
As hopes of an end to hostilities lured investors back to risky assets, the U.S. dollar inter alia declined against the euro, the British pound, the Australian dollar, the Japanese yen, the Canadian dollar, the Swedish krona as well as the Swiss franc. As a result, the Dollar Index which measures the Dollar's strength against a basket of 6 currencies also dropped more than one and a half percent.
During the past week, the Dollar Index traded between the weekly high of 100.29 recorded on Monday and the weekly low of 98.53 recorded on Wednesday. With the dramatic de-escalation...