The U.S. Dollar value edged higher as the U.S.-Iran standoff over the next round of peace talks kept the Strait of Hormuz effectively shut, pushing oil prices higher. In addition, more-than-expected U.S. pending home sales numbers and strong month-over-month retail sales supported the U.S. dollar.
The U.S. Dollar Index, DXY, which measures the Greenback against a basket of other major currencies was last seen trading at 98.36, up by 0.29 (or 0.30%) today.
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Market Analysis
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.