The U.S. dollar exhibited strength against its major counterparts on Friday on bets the Federal Reserve will tighten its monetary policy more aggressively to rein in inflation.
Data released by the Labor Department on Thursday that showed a bigger than expected increase in U.S. consumer prices has raised expectations that the central bank might hike interest rates by fifty basis points in its March meeting.
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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.