The U.S. dollar retreated from higher levels Wednesday afternoon after the release of the Federal Reserve's July meeting, but still managed to hold above the flat line as the minutes indicated the central bank will continue hiking rates to fight inflation.
The Fed minutes reaffirmed the central bank's plans to continue raising interest rates in an effort to return inflation to its 2% objective.
The Fed did not provide specific guidance regarding the pace of future rate hikes, noting that the extent of future policy tightening would depend on the implications of incoming data for the economic outlook and risks to the outlook.
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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.