The U.S. dollar drifted lower on Tuesday on mild hopes the Federal Reserve might soften its rate hiking cycle after data showed U.S. private sector activity contracted for a second straight month in August.
Investors are awaiting Fed Chair Jerome Powell's speech in the upcoming Jackson Hole Symposium in Wyoming, where central bankers across the globe will update their views on inflation and policy 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.