The U.S. dollar drifted lower on Tuesday amid hopes the Federal Reserve might slow down the pace of interest rate hikes as data showed a contraction in US business activity in the month of October.
On Monday, a monthly S&P Global survey of purchasing managers showed both manufacturers and services firms reported weaker client demand in October.
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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.