The U.S. dollar shed ground against its major counterparts on Friday after data showing a rise in the jobless rate and slower wage growth in February tempered expectations for a 50 basis point hike from the Fed this month.
Data from the Labor Department showed that the unemployment rate rose to 3.6% in February from 3.4% in January. The unemployment rate was expected to be unchanged.
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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.