After falling against other major currencies in the Asian session, the U.S. dollar recovered and pared most of its losses as the day progressed on Wednesday.
The dollar's early weakness was due to improved risk sentiment in the market amid growing hopes the $1.9 trillion coronavirus relief package will be passed sometime soon without Republican support.
After recovering from the session's lows, the greenback faltered again after data showed U.S. consumer prices rose 0.3% in January on higher gas prices.
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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.