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US dollar tries to recover from three-year nadir
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US dollar tries to recover from three-year nadir
Jun 12, 2025 2:28 PM

The US dollar fell against most major rivals on Thursday, plumbing a three-year nadir before paring the losses following US inflation data.

US President Trump said hes willing to extend the final July 8 deadline to carry on trade talks, but warned that the US will send messages in the next few weeks to tens of countries to set trade terms.

Earlier US data showed producer prices rose 2.6% y/y in May, beating estimates of 2.5%.

US unemployment claims came at 248 thousand in the week ending June 7, same as the previous week, and up from estimates of 246 thousand.

Following the data, Trump renewed his attacks on Fed Chair Jerome Powell and called him a fool, but said once more he wont fire him.

Otherwise, the dollar index fell 0.7% as of 20:14 GMT to 97.9, with a session-high at 98.5, and a three-year low at 97.6.

Sterling

The GBP/USD pair rose 0.4% as of 20:33 GMT to $1.3596.

Recent data showed UK GDP shrank 0.3% in April, while analysts expected a 0.1% contraction.

Aussie

The AUD/USD pair rose 0.4% as of 20:33 GMT to $0.6528.

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