The U.S. dollar traded weak against major rivals on Thursday with investors reacting to data showing a significant drop in U.S. GDP growth in the third quarter, and digesting the European Central Bank's policy statement.
Traders also reacted to policy announcements from the Bank of Canada and the Bank of Japan.
A report from the Commerce Department showed a dramatic slowdown in the pace of U.S. economic growth in the third quarter. The report said real gross domestic product increased by 2% in the third quarter after jumping by 6.7% in the second quarter. Economists had expected the pace of GDP growth to slow to 2.7%.
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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.