The U.S. dollar climbed higher against its major counterparts on Tuesday as Treasury yields rose amid bets the Federal Reserve might resort to aggressive policy tightening to combat soaring inflation.
The yield on U.S. 10-year Treasury note rose to 2.871 percent, while the yield on the 30-year Treasury bond climbed to 3.083.
In a speech at the Institute for Monetary and Financial Stability in Frankfurt, Germany, Federal Reserve governor Christopher Waller said that he favored 50 basis point hike at every meeting until there is a substantial reduction in 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.