The U.S. dollar fell in the Asian session on Friday, and after rebounding smartly on data showing an acceleration in the pace of consumer price growth in the U.S., retreated amid speculation the Fed might slow down the pace of interest rate hikes in the coming months.
Data from the Commerce Department showed the annual rate of growth by the personal consumption expenditures price index accelerated to 6.8% in June from 6.3% in May, showing the fastest growth since January 1982.
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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.