The U.S. dollar slipped after the Federal Reserve announced its monetary policy on Wednesday, but regained lost ground and emerged above the flat line subsequently.
The Fed raised interest rates by another 75 basis points as widely expected, citing efforts to achieve maximum employment and inflation at the rate of 2% over the long run.
The central bank also said that ongoing increases in rates will be "appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time."
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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.