The U.S. dollar firmed against its major peers on Friday as treasury yields rose after Federal Reserve Chair Jerome Powell said he saw merit in "front-end loading" policy moves and indicated a 50 basis point rate hike would be on the table at the central bank's next meeting in early May.
Speaking at an IMF panel discussion, Powell signaled that two or more half-point hikes would be appropriate at upcoming meetings to tame inflation.
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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.