The U.S. dollar drifted lower against some of the major currencies on Wednesday as risk sentiment in the market improved thanks to fairly encouraging economic data from the U.S., Europe and China.
However, continued worries about pace of global economic recovery due to sharp spikes in new coronavirus cases in several parts of the world, especially in the U.S., limited dollar's downside.
A report from the Institute for Supply Management showed U.S. manufacturing activity unexpectedly expanded in the month of June. The ISM said its purchasing managers index jumped to 52.6 in June from 43.1 in May, with a reading above 50 indicating an expansion in manufacturing activity.
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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.