After climbing higher amid rising speculation the Federal Reserve and several other central banks will aggressively hike interest rates to fight inflation, the U.S. dollar pared gains with traders turning slightly cautious.
The Fed is widely expected to announce another 75-basis point hike interest rates. CME Group's FedWatch Tool is currently indicating an 84% chance of a 75 basis points rate hike and a 16% chance of a 100 basis point rate hike.
For comments and feedback contact: editorial@rttnews.com
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.