The U.S. dollar rebounded against most major currencies on Thursday, regaining some recent losses, after the latest batch of economic data turned out to be a bit encouraging.
The greenback, which was struggling against most of its major rivals in most of the recent sessions, shed notable ground on Wednesday after the Federal Reserve held interest rates unchanged and said there won't be any hike in the current year. The Fed also lowered its outlook for the U.S. economy. The Fed Chairman Jerome Powell said that it's great time to be patient with interest rates.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.