The U.S. dollar strengthened against its major counterparts on Wednesday amid fading hopes about a slowdown in the pace of Fed's monetary policy tightening.
The dollar had tumbled in recent sessions after weaker than expected manufacturing data and construction spending report raised hopes the Fed will be less hawkish in its policy stance.
The yield on long term U.S. 10-year Treasury note rose to 3.769%.
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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.