The U.S. dollar was trading soft in Asian Market opening trades today, poised to make its first weekly drop in five weeks against the euro and the yen as worries over the United States\' worsening fiscal health sent investors scurrying for safe havens. After Moody\'s last week downgraded its U.S. debt ratings, investor attention this week has turned towards the country\'s $36 trillion debt pile and U.S. President Donald Trump\'s tax bill that could add trillions of dollars more to it. Dubbed by Trump as a \"big, beautiful bill\", it narrowly passed Republican-controlled U.S. House of Representatives and now heads to the Senate for what is likely to be weeks of debate. The dollar index is set for 1.1% decline this week though it was little changed at 99.67 today. In some of the major currencies today, the yen was steady at 143.84 per dollar, also on course for a 1.2% rise for the week, after Japan\'s core inflation accelerated at its fastest annual pace in more than two years in April, raising the odds of another interest rate hike by year-end. The euro strengthened 0.21% to $1.1313 and is set for a 1.2% gain for the week while the pound was 0.19% higher versus the USD at $1.3441. . The Indian rupee opened marginally stronger at 85.97/98 against its previous session’s close of 86.00/01 versus the USD and is expected to trade between 85.70 - 86.20 band today.
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