The U.S. dollar recovered from early lows and had some bright moments up in positive territory on Tuesday as prospects of a sharp cut in interest rates in July faded after St. Louis Fed President James Bullard dismissed call for half-point cut.
The dollar gained against most of the major currencies as well, but gains were limited as traders continued to bet on an interest rate cut sometime in the foreseeable future.
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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.