The U.S. dollar climbed higher against most of its major counterparts on Monday, extending recent gains, amid bets the central bank will continue to aggressively hike interest rates.
Recent strong jobs data and remarks by several Fed officials indicate the central bank will announce another 75-basis point hike in interest rates in November.
The dollar index surged to 113.33 this afternoon, and despite easing to 113.13, remains well above the flat line, gaining 0.3% over its previous close.
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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.