After staying firm against its peers for much of the day's session, the U.S. dollar began paring gains and even turned negative against a few currencies on Thursday.
Surging coronavirus cases in the U.S., Europe and several countries in the Asia-Pacific region, fresh lockdown measures imposed at several places, and the latest batch of economic data set the trend for the currency's movements.
New York City public schools are returning to remote learning for all 1.1 million students, signaling that a second wave of the coronavirus has arrived. In Minnesota, Governor Tim Walz announced a month-long stop to social gatherings, gyms and indoor service at bars and restaurants as the virus spread spiked to a record high.
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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.