The US dollar remained mixed on Wednesday as market concerns focused on the spending bill and tax cuts by the Donald Trump administration.
Republicans are still divided on Trump's massive tax cut plan, which is feared to be further damaging to the US economy.
The implementation could push their national debt to $3 trillion to $5 trillion while the current debt has reached $36 trillion.
Following the downgrade of the US government's credit rating by Moody's Ratings last week, confidence in the world's giant economy has been shaken, which was previously eroded by the risk of tariff implementation.
The US dollar has reversed the positive trend of the previous week with a depreciation since the opening of the week.
Driving the movement towards the end of the week, the US manufacturing and services PMI data report will be in focus in the New York session tonight.
Similar data will also be published in the European session for Germany and the UK to assess the current health of the economy for May.
The Euro hit a new 2-week high yesterday against the US dollar, while the Pound, which surged in the European session following the reaction to rising UK inflation data, failed to maintain momentum.
The Canadian dollar extended its stronger gains in the New York session yesterday while the Australian dollar was mixed after the Reserve Bank of Australia (RBA) cut interest rates at its latest meeting this week.
Among other highlights, gold rose slowly after a price surge that surpassed the $3,300 mark on Wednesday.
Meanwhile, Bitcoin created new history with a record high price reaching around $110,700 this morning.
