The U.S. dollar turned in a fine performance against most of its major rivals on Tuesday, buoyed by news about President Donald Trump and congressional leaders clinching a two-year budget agreement.
The deal would help raise hundreds of billions in new spending and avert a government shutdown and fiscal crisis.
Soon after the leaders signed off on the final agreement on Monday evening through a conference call, Trump tweeted, "I am pleased to announce that a deal has been struck with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, Speaker of the House Nancy Pelosi, and House Minority Leader Kevin McCarthy - on a two-year Budget and Debt Ceiling, with no poison pills."
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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.