After climbing higher amid rising speculation the Federal Reserve and several other central banks will aggressively hike interest rates to fight inflation, the U.S. dollar pared gains with traders turning slightly cautious.
The Fed is widely expected to announce another 75-basis point hike interest rates. CME Group's FedWatch Tool is currently indicating an 84% chance of a 75 basis points rate hike and a 16% chance of a 100 basis point rate hike.
For comments and feedback contact: editorial@rttnews.com
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.