After showing modest strength early on in the session, the U.S. dollar retreated and largely stayed sluggish on Tuesday as riskier currencies found some support amid optimism about a potential coronavirus vaccine.
Expectations that the U.S. government will announce a stimulus sometime in the foreseeable future contributed as well to the modest dip in demand for greeback.
Drugmaker Pfizer reported that its Covid-19 vaccine was found to be over 90% effective in preventing Covid-19 in a large-scale clinical trial.
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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.