The U.S. dollar was weak against most of its rivals on Tuesday, weighed down by a massive stimulus package signed by President Donald Trump.
The currency fell sharply in the Asian session after U.S. House of Representatives backed President Donald Trump's push for increasing the direct payments in the coronavirus relief package and sent the bill to the Senate.
However, it pared some losses as the session progressed following Senate Majority Leader Mitch McConnell, R-Ken., blocking an effort by Senate Minority Leader Chuck Schumer, D-N.Y., to unanimously approve the House bill.
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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.