The U.S. dollar shed ground against its major rivals on Wednesday, as bond yields fell amid expectations the Federal Reserve will slow the pace of interest rate hikes.
Traders also digested a slew of economic data including a Commerce Department report showing a steep drop in U.S. retail sales in the month of December.
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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.