After losing ground in early Asian deals, the U.S. dollar rebounded on Tuesday after data showed a notable expansion in U.S. manufacturing activity in the month of August.
The dollar index, which dropped to 91.75, hitting a more than 2-year low in process, rallied to 92.40 later on in the session, and was last seen at 92.31, up 0.18% from previous close.
Fears about the pace of economic recovery, uncertainty ahead of the U.S. presidential election in November and speculation that the Federal Reserve will keep interest rates very low for years, all contributed to dollar's early weakness.
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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.