The U.S. dollar turned in a sluggish performance on Friday, extending recent weakness, amid easing concerns about interest rate hikes, and data showing a slowdown in the pace of consumer price growth in the month of April.
The Commerce Department's report showed the rate of core consumer price growth slowed to 4.9% in April from 5.2% in March, raising optimism that the Fed will slow the pace of monetary policy tightening in the second half of the year.
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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.