The U.S. dollar drifted lower on Monday as the Sterling gained in strength against other major currencies after the new British Finance Minister Jeremy Hunt announced that the government would withdraw almost all tax measures of economic plan to support fiscal sustainability.
The Chancellor announced that the basic rate of income tax would remain at 20% for the time being.
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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.