India, Aug. 11 -- The U.S. dollar declined against major currencies during the week ended August 8 amidst weak economic data that renewed hopes of a larger-than expected and higher-than-expected monetary policy easing by the Federal Reserve. Markets also factored in the recent developments in the Federal Reserve including President Trump's nominations to the Fed.
During the past week, the U.S. Dollar inter alia slipped against the euro, the British pound, the Australian dollar, the Canadian dollar and the Swedish krona but held its ground against the Japanese yen and the Swiss franc. The Dollar Index which measures the Dollar's strength against a basket of 6 currencies also dropped close to a percent during the past week.
From the level o...