The U.S. dollar retreated after moving higher early on in the session on Wednesday, as rising possibilities of a fiscal stimulus in the U.S., and fairly encouraging economic data from Asia and Europe dimmed its safe haven appeal.
Data showing a smaller than expected increase in U.S. private sector employment in the month of November contributed as well to the currency's weakness.
According to the report from payroll processor ADP, private sector employment in the U.S. increased by less than expected in the month of November. The report said private sector employment rose by 307,000 jobs in November after climbing by an upwardly revised 404,000 jobs in October.
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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.