After exhibiting weakness in the Asian session on Thursday, the U.S. dollar climbed higher in early New York session after data showing a bigger than expected increase in U.S. producer prices in the month of January, raised the possibility of the Fed continuing to stay aggressive with its rate hike moves.
The dollar lost its way subsequently, but inched higher later on in the session to score modest gains against some of its major counterparts.
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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.