India, May 27 -- The Dollar recorded a massive plunge during the week ended May 23 amidst an escalation in tensions between the U.S. and its trading partners, particularly the European Union. Citing disappointment over the trade negotiations with the European Union, President Trump had on Friday imposed a 50 percent tariff on imports from the European Union. Concerns about the fiscal deficit situation in the U.S. also weighed on sentiment.
The U.S. Dollar inter alia slipped against the euro, the British pound, the Australian dollar, as well as the Japanese yen during the past week. The greenback also declined against the Swiss franc, the Swedish krona and the Canadian Dollar. The Dollar Index which measures the Dollar's strength against a ...