India, April 14 -- The U.S. dollar tumbled against major currencies during the week ended April 11 amidst renewed uncertainty in respect of U.S. trade policy and softer-than expected CPI readings. The greenback inter alia plunged against the euro, the British pound, the Australian dollar, and the Japanese yen. The Dollar Index also recorded a massive plunge to three-year lows as the dollar remained under pressure from heightened fears of a U.S. recession.
After imposing heavy reciprocal tariffs on its trade partners, the U.S. suddenly changed course and announced a 90-day pause on the tariffs. The tariff spat between the U.S. and China that continued - with each side slapping steep trade tariffs on each other - however exacerbated the mark...