The U.S. dollar recovered after early weakness on Wednesday, as crude oil prices recovered from recent big losses on short-covering and a much smaller than expected increase in gasoline inventories last week.
Traders also digested the news about the U.S. Senate passing a new bill to provide funding for hospitals and small businesses and expand coronavirus testing.
The $484 billion aid package was approved unanimously by the Senate and now heads to the House, which could approve the bill as soon as Thursday.
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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.