India, May 11 -- The U.S. dollar extended losses against major currencies during the week ended May 8 despite data from the U.S. that showed a resilient job market. Fading safe haven demand dragged down the dollar amidst President Trump's assertion that the ceasefire between Washington and Tehran remained intact despite the recent flare-up in the Strait of Hormuz.
The Dollar eased amidst expectations surrounding the diplomatic efforts to end the Middle East conflict, that eclipsed the monetary policy outlook swayed by the better-than-expected readings from the labor market.
During week ended May 8, the U.S. dollar inter alia declined against the euro, the British pound, the Australian dollar, the Japanese yen as well as the Swiss franc. I...