After plunging to a new multi-year low in the Asian session, the U.S. dollar gradually recovered and stayed higher for a brief while after the Federal Reserve announced its monetary policy.
Rising hopes that the U.S. lawmakers will eventually agree on a fiscal weighed on dollar. Fairly encouraging euro area economic data too contributed to dollar's weakness.
the Fed announced its widely expected decision to leave interest rates unchanged while also revealing plans to continue its asset purchase program until the economy shows substantial progressed towards the central bank's goals of maximum employment and price stability.
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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.