The U.S. dollar was mostly subdued slightly above the unchanged line on Wednesday with traders weighing political and economic news from across the globe for direction.
The ongoing trade spat between the U.S. and China threatens to significantly impact global economic growth.
Earlier this week, the markets were reacting to news that the U.S. administration will hike tariffs on $200 billion worth of Chinese goods to 25% from the existing 10% from this 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.