The U.S. dollar hit a four-week high on Tuesday as Sterling tumbled amid fears about a no-deal Brexit, and equity markets tumbled amid rising worries about a surge in coronavirus cases.
Traders lapped up the safe-haven dollar after equities tumbled on Wall Street. The sell-off in the technology space spread to other sectors as well, and the major averages all ended with sharp losses today. The Nasdaq tumbled 4.11%, while the Dow and the S&P 500 lost 2.25% and 2.78%, respectively.
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Forex News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.