The U.S. Dollar drifted lower against most of its major rivals on Wednesday, with traders reacting to the monetary policy announcement from the Bank of Canada, and looking ahead to the policy statements from the Bank of Japan and the European Central Bank.
The Canadian central bank maintained its benchmark rate at 0.25%, as expected, but terminated the quantitative easing program, reflecting the progress in the economic recovery from the crisis.
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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.