The U.S. dollar rallied sharply on Tuesday as traders rushed to pick up the currency despite recent sharp reductions in interest rates.
The fact that other central banks too have come out with rate cuts appears to be tilting the balance in favor of the greenback.
The Federal Reserve announced that it has established a commercial-paper funding facility to improve liquidity to provide short-term funding for U.S. corporations to roll over short-term debt and to provide credit "that will support families, businesses and jobs across the economy."
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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.