The U.S. dollar gained significant ground against other major currencies on Wednesday, riding on upbeat economic data and optimism about economic recovery.
Data from the Commerce Department showed U.S. retail sales rose 5.3% in January, as against expectations for a 1.1% jump. In December, retail sales had slid by a revised 1%, after falling by 0.7% a month earlier.
Excluding sales by motor vehicle and parts retailers, retail sales soared by 5.9% in January after tumbling by a revised 1.8% in December. Economists had expected ex-auto sales to increase by 1% compared to the 1.4% slump originally reported for the previous month.
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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.