The U.S. dollar strengthened against its major counterparts on Wednesday amid fading hopes about a slowdown in the pace of Fed's monetary policy tightening.
The dollar had tumbled in recent sessions after weaker than expected manufacturing data and construction spending report raised hopes the Fed will be less hawkish in its policy stance.
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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.