Said the economic expert, Afnan Khalifa
The US dollar fell in the European market on Monday against a basket of global currencies, to resume its losses, which were paused in the previous session, recording the lowest level in three months, with activity in selling the currency again, due to strong possibilities about reducing the pace of raising federal interest rates, starting from the January meeting. December.
As members of the US Central Bank consider it appropriate soon to slow down the pace of raising interest rates, the matter strongly reinforced speculation about raising interest rates by only 50 basis points at the meeting next month.
US dollar index
The dollar index decreased by 1.57% to 104.34 points, the lowest level since last August, from today’s opening level at 106.06 points, and the highest level at 106.52 points.
The dollar index ended Friday’s trading, up by 0.2%, in the first gain in the last four days, as part of the breath-taking operations at the end of the week.
In terms of trading last week, the dollar index lost 0.85%, the second weekly loss in the last three weeks, due to weak economic data in the United States, and the publication of details of the recent meeting of the Federal Reserve.
Federal Reserve
The minutes of the Federal Reserve’s November 1-2 meeting showed that the vast majority of US monetary policy makers agreed that it would likely be appropriate soon to slow the pace of interest rate hikes.