After holding firm in the European session amid rising hopes the Fed will start tapering its stimulus measures from November, the U.S. dollar pared gains and stayed somewhat subdued on Thursday.
The currency fluctuated during the later part of the session today as traders reacted to comments from top Fed officials, including Chairman Jerome Powell, news about the Senators reaching a deal to avoid a government shutdown, and the latest data on U.S. GDP and jobless claims.
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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.