India, June 15 -- Better-than-expected core CPI data from the U.S as well as renewed hopes of a peace deal between the U.S. and Iran abetted the dollar's retreat during the week ended June 12. Softer-than-expected core CPI readings as well as the decline in crude oil prices contributed to markets tempering expectations of a rate hike by the Federal Reserve.
During week ended June 12, the U.S. dollar inter alia declined against the euro, the British pound, the Japanese yen as well as the Swedish krona. It however rallied against the Australian dollar, 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 a quarter percent on a wee...