The U.S. dollar drifted lower in the Asian session on Tuesday and shed further ground subsequently before briefly rebounding above the flat line a little before noon after the Fed Chief indicated the central bank would discuss accelerate the pace of tightening its policy.
However, the greenback retreated soon and kept sliding gradually as the day progressed, with traders weighing the likely impact of the Omicron variant of the coronavirus on the global economy.
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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.