The U.S. dollar retreated after a minor uptick in the Asian session on Thursday, but recovered losses and remained steady as its safe-haven appeal largely stayed intact as the continued surge in coronavirus cases raised uncertainty about economic recovery.
Riskier assets such as equities tumbled on growth worries treasury yields in the U.S. and Europe fell as coronavirus cases continued to rise.
On the data front, a report from the Labor Department showed initial jobless claims fell to 709,000, a decrease of 48,000 from the previous week's revised level of 757,000. Economists had expected jobless claims to dip to 735,000 from the 751,000 originally reported for the previous week.
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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.