The U.S. dollar traded firm against its major counterparts on Tuesday as concerns about economic slowdown in China and rising expectations about sharper rate hikes from the Federal Reserve pushed up the demand for the currency.
Worries about rising coronavirus cases in China contributed as well to dollar's uptick.
A report released by the Commerce Department showed new orders for U.S. manufactured durable goods rebounded in the month of March, climbing by 0.8% in the month, after tumbling by a revised 1.7% in February.
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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.