The U.S. dollar advanced against most of its major rivals on Thursday, extending gains from the previous session, amid expectations that rising inflation might prompt the Federal Bank to start raising interest rates sooner than earlier thought.
The data released by the Labor Department on Wednesday showed consumer price index jumped by 0.9% in October after rising by 0.4% in September. Economists had expected consumer prices to climb by 0.6%.
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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.