The U.S. dollar climbed higher on Monday, scoring fairly strong gains over some of its major counterparts, as investors picked up the safe-haven currency amid rising fears about a possible recession, and aggressive rate hikes by the Federal Reserve.
The dollar has been gaining in strength in recent sessions, riding on remarks from several Federal Reserve officials that the central bank needs to be aggressive with monetary tightening to tame inflation. The focus is now on the Fed's Jackson Hole, Wyoming, symposium, set to take place this week.
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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.