The U.S. dollar firmed against most of its major counterparts on Thursday despite seeing some weakness at times during the course of the day's session.
Hopes of tighter monetary policy and steeper interest rate hikes contributed to dollar's strength.
The Fed minutes from the March meeting showed that most policymakers supported one or more 50 basis point rate hikes at future meetings, if inflation pressures remained elevated or intensified.
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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.