The U.S. dollar, which drifted lower in the European session, recovered and gained in strength subsequently, riding on strong consumer confidence and new home sales data.
Meanwhile, traders looked ahead to upcoming monetary policy meetings of the European Central Bank(ECB), the Bank of Canada and the Bank of Japan.
The ECB is expected to take a dovish stance when it meets on Thursday. Central bank meetings in Japan and Canada are also scheduled this week.
For comments and feedback contact: editorial@rttnews.com
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.