The U.S. Dollar climbed up against most of its major rivals on Tuesday, lifted by hawkish comments from Fed officials that signaled the central bank will start tapering its bond purchase program sometime soon.
Atlanta Fed President Raphael Bostic and Richmond Fed President Tom Barkin said inflation has already reached the Fed's 2% threshold, one of the two conditions needed before a rate hike move.
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Forex News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.