The U.S. dollar turned weak against its major counterparts on Tuesday, after a few Fed policymakers commented that it would be appropriate to slow down the pace of interest rate increases.
Cleveland Fed President Loretta Mester said on Monday that although the central bank will be raising the funds rate, it would be appropriate to slow down the pace of increases.
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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.