The U.S. dollar gained ground against its major rivals on Thursday as traders looked ahead to the Jackson Hole symposium for more insights about the Fed's plan to scale back bond purchase program.
The Federal Reserve Chairman Jerome Powell is expected to provide some hints on the central bank's tapering timeline.
Comments from Fed officials at the meeting may impact the outlook for monetary policy following recent indications the central bank plans to begin scaling back asset purchases this year.
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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.