The U.S. dollar drifted lower against most of its major counterparts on Monday, extending its slide from the previous session, weighed down by very hawkish comments from the European Central Bank.
The ECB, which hiked its lending rate by a whopping 0.75% on Friday, signaled further aggressive hikes in the coming months to rein in inflation.
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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.