The U.S. dollar shed ground against some of its major counterparts on Tuesday, as traders looked ahead to U.S. inflation data for clues about the Federal Reserve's moves with regard to interest rates.
Data from the Labor Department tomorrow is expected to show consumer prices edged up by 0.2% in July after jumping by 1.3% in June. The annual rate of growth is expected to slow to 8.7% from a four-decade high of 9.1%.
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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.