The U.S. dollar climbed higher against most of its major rivals on Thursday after data showing an unexpectedly bigger jump in the nation's economic activity in the third quarter raised prospects of the Federal Reserve continuing its interest rate hikes in the coming months.
Data released by the Commerce Department showed the surge in real gross domestic product in the third quarter was upwardly revised to 3.2% from the previously reported 2.9%. Economists had expected the pace of GDP growth to be unrevised.
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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.