The U.S. dollar stayed subdued against most of its major rivals on Wednesday as signs of a slowdown in U.S. economic activity trimmed rate hike expectations.
Economic activity in the U.S. has recently grown at a modest to moderate rate, according to the Federal Reserve's Beige Book, although the pace of growth has slowed.
The Beige Book attributed the slowdown to supply chain disruptions, labor shortages, and uncertainty around the Delta variant of COVID-19.
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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.