The U.S. dollar surged higher on Friday, reacting to comments from Federal Reserve Chairman Jerome Powell that the central bank's commitment to price stability has been contributing to the confidence in the currency.
Powell said the central bank is acutely focused on returning inflation to 2% goal.
In U.S. economic news today, the Federal Reserve released a report showing industrial production increased by less than expected in the month of May,
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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.