The U.S. dollar exhibited weakness against most of its peers on Wednesday, extending recent losses, as rising concerns about coronavirus spread and an escalation in U.S.-China tensions, triggered a sell-off in the currency.
Markets were also following the developments on the stimulus front, where Republicans and Democrats had different views on the package that recommended a payroll tax cut and funding for coronavirus tests and the CDC. While the Republicans are for a near $1 trillion rescue bill, the Democrats are not in favor of the same.
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