The U.S. dollar lost ground against its major counterparts on Thursday, weighed down by Fed Chair Jerome Powell's comments signaling a slower pace of rate hikes from this month.
The Fed is widely expected to hike interest rate by 50 basis points when it meets on December 13-14.
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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.