The U.S. dollar turned weak against its major counterparts on Tuesday, after a few Fed policymakers commented that it would be appropriate to slow down the pace of interest rate increases.
Cleveland Fed President Loretta Mester said on Monday that although the central bank will be raising the funds rate, it would be appropriate to slow down the pace of increases.
Atlanta Federal Reserve President Raphael Bostic said he favors slowing the pace of interest rate increases, with no more than 1 percentage point more of hikes.
For comments and feedback contact: editorial@rttnews.com
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.