The U.S. dollar pared some gains and largely stayed sluggish against its peers as the focus remained on the results of U.S. presidential election.
The dollar's recovery from lower levels was due largely to the assumption that Democrats were unlikely to win majority in the U.S. Senate, even as their candidate Joe Biden appeared to be heading for a victory in the presidential race.
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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.