India, Jan. 27 -- The U.S. Dollar tumbled against major currencies during the week ended January 24 amidst a perceived softening in the U.S. administration's tone on trade tariffs and President Trump's call to global central banks to lower interest rates.
Weak economic data updates from the U.S. also aided the Dollar's decline. The Dollar inter alia declined against the euro, the British pound, the Australian Dollar, and the Japanese Yen. It also decreased against the Canadian dollar, the Swedish Krona and the Swiss franc, dragging down the six-currency Dollar Index.
The Dollar Index, a measure of the Dollar's strength against a basket of 6 currencies, which had closed at 109.35 on January 17, plunged to 107.44 by January 24, recording a ...