The U.S. dollar climbed higher against most of its major counterparts on Thursday as treasury yields spiked amid rising expectations the Federal Reserve will hike rates as early as March.
The minutes of the Federal Reserve's latest policy meeting indicated that the central bank is prepared for earlier and faster rate hikes in the wake of an improvement in the labor market and elevated inflation pressures.
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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.