The U.S. dollar shed ground against its major counterparts on Monday amid hopes the Federal Reserve will start reducing interest rates by the middle of 2024.
Recent data showing a bigger than expected drop in consumer price inflation, and an uptick in weekly jobless claims have raised expectations that the central bank will hold rates unchanged for now, and begin reducing rates sooner than earlier thought.
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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.