The U.S. dollar shed ground against its major counterparts as German bond yields climbed higher on expectations the European Central Bank might aggressively tighten its policy.
Traders also focused on the mid-term elections in the U.S., and looked ahead to the consumer price inflation data, due later in the week.
The dollar index dropped to 109.37 around noon, and despite recovering to 109.65 subsequently, is down more than 0.4% from the previous close.
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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.