India, May 20 -- The U.S. dollar weakened against other major currencies in the European session on Tuesday, due to fiscal and economic concerns amid uncertainties about U.S. tariffs.
Investors watched the latest developments on the trade front and reacted to widely expected rate cuts in China to stimulate consumption and loan growth.
On Friday, Moody's cut the US credit rating to Aa1 from Aaa. This decision redirected financial market investors' attention to the growing $36 trillion U.S. government debt pile and fiscal imbalances, which would result in a long-term increase in the cost of capital for the U.S. administration.
In the European trading today, the U.S. dollar fell to nearly a 2-week low of 144.09 against the yen, from an earl...