The U.S. dollar weakened against its major counterparts on Friday amid bets the Federal Reserve will likely cut interest rate in June after data showed a slowdown in manufacturing activity in the U.S., and a drop in consumer sentiment.
Data from the Institute for Supply Management showed that the manufacturing PMI dipped to 47.8 in February from 49.1 in January, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 49.5.
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Forex News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.