After plunging to a new multi-year low in the Asian session, the U.S. dollar gradually recovered and stayed higher for a brief while after the Federal Reserve announced its monetary policy.
Rising hopes that the U.S. lawmakers will eventually agree on a fiscal weighed on dollar. Fairly encouraging euro area economic data too contributed to dollar's weakness.
the Fed announced its widely expected decision to leave interest rates unchanged while also revealing plans to continue its asset purchase program until the economy shows substantial progressed towards the central bank's goals of maximum employment and price stability.
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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.