After advancing a bit early on in the session on Tuesday, the U.S. dollar gave up its gains and then spent most part of the day below the flat line, as traders weighed the impact of the ongoing trade war and looked ahead to some crucial economic data due this week.
Expectations about a rate cut by the Federal Reserve sometime in the near future contributed as well to the dollar's sluggish display.
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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.