The U.S. dollar is hovering near a two-decade high on Tuesday, despite turning in a somewhat sluggish performance, as traders look ahead to the crucial inflation data, due on Wednesday.
Expectations that the Federal Reserve will keep hiking interest rates in the coming months to combat soaring inflation.
The Labor Department is due to release its report on consumer price inflation on Wednesday, with the annual rate of price growth expected to slow to 8.1% in April from 8.5% in March.
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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.