The U.S. Dollar value inched higher after the two-day U.S.-China summit failed to deliver any breakthrough on a possible Chinese role to end the gulf crisis. With reopening of the Strait of Hormuz delaying along with concerns of re-escalation in the Middle East, the dollar index moved higher.
The U.S. Dollar Index, DXY, which measures the Greenback against a basket of other major currencies was last seen trading at 99.27, up by 0.32 (or 0.32%) today.
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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.