India, Aug. 3 -- The U.S. dollar declined against major currencies during the week ended July 31 amidst weaker-than-expected inflation data from the U.S. that cast doubts on the Fed's ability to hike interest rates immediately.
During week ended July 31, 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 more than one and a half percent on a weekly basis. Here is a quick recap of the dollar's trajectory during the week ended July 31.
Amidst the anxiety ahead of the FOMC and the much-anticipated PCE data r...