The US dollar erased some of its recent gains against the major currencies of Europe in early New York deals on Tuesday.
The greenback is presently quoted at 1.5865 against the pound and 1.3117 versus the euro, down from previously hit multi-day highs of 1.5811 and 1.3145, respectively.
The dollar also retreated to as low as 0.9170 against the Swiss franc from previous high of 0.9213 hit around 6:20 am ET.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.