The U.S. dollar turned in a lackluster performance against its peers on Thursday as traders reacted to a slew of economic data from the U.S. and Europe, and reacted to comments from BoE policymaker about a likely hie in UK interest rate next year.
Data released by the Labor Department showed initial jobless claims in the U.S. slid to 406,000 in the week ended May 22nd, a decrease of 38,000 from the previous week's unrevised level of 444,000. Economists had expected jobless claims to dip to 425,000.
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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.