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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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.