The U.S. dollar recovered after early weakness on Wednesday, as crude oil prices recovered from recent big losses on short-covering and a much smaller than expected increase in gasoline inventories last week.
Traders also digested the news about the U.S. Senate passing a new bill to provide funding for hospitals and small businesses and expand coronavirus testing.
The $484 billion aid package was approved unanimously by the Senate and now heads to the House, which could approve the bill as soon as Thursday.
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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.