The U.S. dollar rose against most of its major rivals and Tuesday and the dollar index surged to a 22-month high, with upbeat results and an unexpected jump in new home sales triggering the move up north.
The sharp jump in crude oil prices following the U.S. government's decision to stop granting sanctions waivers to major importers of Iranian oil contributed as well the greenback's gains.
Traders now look ahead to the U.S. GDP data for the January-March 2019 quarter, due on Friday.
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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.