India, July 6 -- The U.S. dollar declined against major currencies during the week ended July 3 amidst weaker-than-expected jobs data from the U.S. that cast doubts on the Fed's ability to hike interest rates immediately. The improving geopolitical situation in the Middle East and the resultant decline in crude oil prices also dragged down the dollar. The dollar's retreat was also in cognizance of recent comments on inflation from Fed Chair Kevin Warsh.
During week ended July 3, the U.S. dollar inter alia declined against the euro, the British pound, the Australian dollar, the Japanese yen, the Swedish krona as well as the Swiss franc. It however edged up against the Canadian dollar. As a result, the Dollar Index which measures the Dollar'...