The following are representative rates for major global currency pairs as of early May 2026:
Central banks are in a "holding pattern". While the Federal Reserve's next move is debated, the Reserve Bank of Australia recently considered its third consecutive rate hike, supporting the AUD.
The Japanese Yen is under pressure, with the dollar trading near 159.38 , following recent spikes above the 160.00 level that prompted central bank intervention.
Renewed energy shocks have pushed headline inflation back up in many regions, complicating the narrative for central banks that were hoping to begin cutting rates.