The U.S. dollar tumbled and shed ground against its major counterparts on Tuesday, extending recent weakness, as weaker than expected economic data raised hopes the Fed will be less hawkish in its monetary policy stance at its upcoming meetings.
U.S. Treasury yields dropped after weaker than expected batch of economic data. Australia's central bank surprised investors with a smaller-than-expected interest rate hike.
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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.