The U.S. dollar shed ground against its major rivals on Monday amid rising expectations that the Federal Reserve will likely slowdown the pace of its interest rate hikes in the coming months.
Hopes about the central bank turning less aggressive with its policy stance have risen due to recent weak economic data.
In economic releases today, the S&P Global US Manufacturing PMI was revised slightly lower to 52.2 in July of 2022 from a preliminary of 52.3, pointing to the lowest factory growth since July of 2020.
For comments and feedback contact: editorial@rttnews.com
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.