India, Aug. 4 -- The U.S. Dollar value inches lower as inflationary pressure lowers following plummeting crude oil prices with rising possibilities of a U.S.-Iran deal to reopen the Strait of Hormuz anytime in the coming days.
Today, the U.S. Dollar Index DXY which measures the Greenback against a basket of other major currencies was last seen trading at 99.87, down by 0.14 (or 0.14%).
On the data front in the U.S., the U.S. Bureau of Economic Analysis revealed that the trade deficit narrowed to $73.30 billion in June from $77.6 billion in May, broadly in line with market expectations.
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