The U.S. dollar came off two-week lows and displayed some strength on Wednesday, as rising concerns about the economic impact of the dreaded coronavirus spread weighed on some major currencies.
Data showing a much bigger than expected increase in U.S. new home sales in the month of January supported dollar's uptick.
According to the data released by the Commerce Department today, new home sales spiked by 7.9% to an annual rate of 764,000 in January after jumping by 2.3% to an upwardly revised rate of 708,000 in December.
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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.