The U.S. dollar turned weak against its major counterparts on Friday after data showing an uptick in unemployment rate in the month of October raised hopes the Fed will likely slow the pace of rate hikes in the coming months.
Data released by the Labor Department this morning showed that the unemployment rate increased to 3.7% in October from 3.5% a month earlier. Economists had expected unemployment rate to edge up to 3.6%.
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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.