The U.S. dollar exhibited strength against its major counterparts on Friday as data showing stronger than expected growth in U.S. non-farm payroll employment raised expectations that the Federal Reserve will continue to aggressively tighten its policy.
The Labor Department's data showed that non-farm payroll employment jumped by 390,000 jobs in May after surging by an upwardly revised 436,000 jobs in April. The data has offset the faint hopes that the central bank might slow its planned pace of interest rate hikes.
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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.