The U.S. dollar recovered from early lows and had some bright moments up in positive territory on Tuesday as prospects of a sharp cut in interest rates in July faded after St. Louis Fed President James Bullard dismissed call for half-point cut.
The dollar gained against most of the major currencies as well, but gains were limited as traders continued to bet on an interest rate cut sometime in the foreseeable future.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.