India, March 10 -- The U.S. dollar tumbled against major currencies during the week ended March 7 amidst an extended sell-off on Wall Street triggered by the escalation in the trade war and a weak labor market update.
The greenback inter alia plunged against the euro, the British pound, the Australian dollar and the Japanese yen. The Dollar Index, which measures the U.S. Dollar's strength against a basket of 6 currencies, also recorded a massive plunge to four-month lows. Anxiety about the effects of the tariffs on economic growth and inflation in the U.S. weighed heavily on sentiment.
The Dollar Index, a measure of the Dollar's strength against a basket of currencies comprising the euro, the British pound, the Japanese yen, the Canadian ...