The U.S. dollar drifted lower on Monday, losing ground against most of its major peers, as news about potential easing of lockdowns in China and U.S. President Joe Biden's remarks that he might drop trade tariffs on China resulted in improved risk sentiment.
Biden said that the tariffs imposed on China by the Trump administration will be reviewed after discussing with Treasury Secretary Janet Yellen.
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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.