The U.S. dollar drifted lower against most of its major counterparts on Thursday as traders digested the Federal Reserve's decision to hike interest rates by 75 basis points.
The Bank of England and the Swiss National Bank hiked their interest rates as well to combat inflation.
Following the Federal Reserve's widely expected 75 basis point interest rate hike on Wednesday, the Swiss National Bank unexpectedly raised interest rates for the first time since 2007.
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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.