India, May 18 -- The U.S. Dollar rebounded and rallied emphatically against major currencies during the week ended May 15 as the Middle East conflict drifted farther from a diplomatic resolution, bolstering safe haven demand for the U.S. dollar. The greenback was also lifted by the war-led and fuel-driven inflation spike that threatened to goad the Federal Reserve towards a hawkish monetary policy stance.
During the week, the U.S. dollar inter alia rallied against the euro, the British pound, the Australian dollar, the Japanese yen, the Swedish krona, the Canadian dollar and the Swiss franc. The 6-currency Dollar Index jumped a little less than one and a half percent over the course of the week. Here is a quick recap of the dollar's trajec...