The U.S. dollar firmed against its major rivals on Friday, amid bets the Federal Reserve will continue with its aggressive policy tightening moves in the coming months.
The latest data on U.S. inflation has raised expectations that the central bank will announce another 75-basis point hike in interest rates at its November meeting.
In U.S. economic releases today, a report from the University of Michigan showed a rebound in inflation expectations in the month of October. One-year inflation expectations climbed to 5.1% in October after dropping to a one-year low of 4.7% in September, while five-year inflation expectations increased to 2.9% in October after falling to 2.7% in September.
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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.