After climbing higher in the Asian session on Friday, the U.S. dollar turned weak as the day progressed, amid uncertainty about the pace of interest rate hikes by the Federal Reserve in the coming months.
According to reports, the central bank officials are likely to engage in a potential debate about the pace of rate hikes. While a few officials are reportedly looking at a 75-basis point hike next months, a few others are said to be in favor of slowing down the pace of rate hikes.
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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.