The U.S. dollar firmed against its major counterparts on Tuesday, after the minutes from the Federal Reserve's latest monetary policy meeting signaled interest rates will remain at a restrictive level for now.
The minutes of the October 31-November 1 meeting said participants agreed policy should remain restrictive until inflation is clearly moving down sustainably toward the Fed's 2% objective.
Following the recent series of interest rate hikes, participants also agreed to proceed carefully and take a data-dependent approach to future policy decisions.
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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.