The U.S. dollar climbed up sharply on Thursday, hitting a near 20-month high in the process, on safe-haven appeal after Russia declared war on Ukraine and launched a full-scale invasion on the country.
While it was expected that Russia would be focusing on contested regions in the eastern part of the country, Russian President Vladimir Putin launched an all-out invasion of Ukraine.
U.S. President Joe Biden and other world leaders have condemned Russia for the "unprovoked and unjustified attack," which Biden predicted would cause a "catastrophic loss of life and human suffering."
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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.