After dropping to a one-week low, the U.S. dollar rebounded on Thursday, riding on comments from Federal Reserve Chief Jerome Powell that signaled a series of rate hikes, including a 50-basis points raise.
Participating in an International Monetary Fund panel, Powell said he believes it would be appropriate to raise rates "a little more quickly" and predicted a 50 basis point rate hike would be on the table at the Fed's May meeting.
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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.