After edging higher in the Asian session, the U.S. dollar turned a bit easy Thursday morning, but climbed up against most of its major rivals later on in the day, lifted by strong economic data.
The greenback rose amid expectations that the Federal Reserve will start tapering its asset buying program sooner than later, and possibly hike interest rates next year.
The Labor Department's closely watched monthly employment report is due out on Friday. Economists currently expect the report to show employment jumped by 690,000 jobs in June after surging up by 559,000 jobs in May. The unemployment rate is expected to dip to 5.7% from 5.8%.
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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.