The U.S. dollar tumbled and shed ground against its major counterparts on Tuesday, extending recent weakness, as weaker than expected economic data raised hopes the Fed will be less hawkish in its monetary policy stance at its upcoming meetings.
U.S. Treasury yields dropped after weaker than expected batch of economic data. Australia's central bank surprised investors with a smaller-than-expected interest rate hike.
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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.