The U.S. dollar retreated after moving higher early on in the session on Wednesday, as rising possibilities of a fiscal stimulus in the U.S., and fairly encouraging economic data from Asia and Europe dimmed its safe haven appeal.
Data showing a smaller than expected increase in U.S. private sector employment in the month of November contributed as well to the currency's weakness.
According to the report from payroll processor ADP, private sector employment in the U.S. increased by less than expected in the month of November. The report said private sector employment rose by 307,000 jobs in November after climbing by an upwardly revised 404,000 jobs in October.
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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.